REFILE-GM folds Maven car-sharing unit, citing coronavirus [Reuters]
Lyft, Inc. - Class A (LYFT)
Last lyft, inc. - class a earnings: 2/11 04:05 pm
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Source: Reuters
GM folds Maven car-sharing unit, citing coronavirus (Reuters) - General Motors Co ( GM.N ) said on Tuesday it is shutting down its Maven car-sharing unit, after suspending operations because of the novel coronavirus. The automaker said it would transfer Maven assets and resources to its Global Innovation group. Maven had never gained much traction since it was introduced in Ann Arbor, Michigan, in January 2016. Launched when Dan Ammann was GM’s president, Maven had a short-lived strategic alliance with ride services startup Lyft ( LYFT.O ). Ammann is now chief executive officer of Cruise, the San Francisco self-driving startup that GM acquired under Ammann’s aegis in early 2016 just after launching Maven. Julia Steyn, the first head of Maven, left GM in 2019. She is chief executive officer of Bolt Mobility, an e-scooter rental startup co-founded by world-class sprinter Usain Bolt. In a brief statement on Monday, Pamela Fletcher, head of GM Global Innovation, said the automaker “ga
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