GM shuts its car-sharing service Maven

General Motors has confirmed that it has shuttered its car-sharing service Maven.

Launched in 2016, Maven joins a long list of car-sharing services run by automotive OEMs that have failed to make a mark in the North American market.

“After critically looking at our business, the industry, and what's going on with COVID-19, we have made the tough but necessary decision to wind down our business,” the company said in an e-mail to its customers.

“We've gained extremely valuable insights from operating our own car-sharing business,” Pamela Fletcher, GM's Vice President of Global Innovation, said in a statement. “Our learnings and developments from Maven will go on to benefit and accelerate the growth of other areas of GM business.”

Maven had been critically affected due to the spread of COVID-19 and was forced to suspend operations in March. Since last year, the car-sharing company had been gradually shutting operations in various cities including Boston and Chicago.

The assets and resources owned by Maven will be taken over by GM's Global Innovation organisation as well as the larger enterprise, according to a GM spokesperson. Maven Gig, a part of the car-sharing enterprise that used to provide rental vehicles to drivers of various ride-hailing platforms, will also be shut.

GM plans to wind up Maven's operations entirely by the end of this summer.