(April 24, 2020) DETROIT — General Motors has announced it is shutting down Maven, a ride-sharing company and its first prominent foray into the mobility space, amid the coronavirus pandemic.

"We've gained extremely valuable insights from operating our own car-sharing business," Pamela Fletcher, vice president of Global Innovation for GM, 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 notified customers Tuesday that the business will wind down gradually by market, spokeswoman Katie Downey said. All operations will likely be shut down by late summer. Maven's assets and resources will be transferred to GM's Global Innovation organization, as well as the larger enterprise, the statement said.

Maven launched in 2016 in Ann Arbor, Mich., as a short-term vehicle rental service before expanding with Maven Gig, which provides short-term leases for vehicles used in ride-hailing or delivery services. Maven Gig will also be shut down.

Source: The Automotive News