logo
Plus   Neg
Share
Email

WSJ : GM Plans To Wind Down Car-sharing Service In Eight North American Cities

General Motors Co. (GM) plans to wind down its Maven car-sharing service in several major North American cities in the next few months, the Wall Street Journal reported.

"We're shifting Maven's offerings to concentrate on markets in which we have the strongest current demand and growth potential," GM reportedly said.

The Journal reported that Maven, a car-sharing brand launched in 2016 by GM, will end its service in eight of the 17 cities in which it currently operates, including Chicago and Boston. But, Maven will continue to operate in Los Angeles, Washington, D.C., Detroit, Toronto and other cities.

The report said that GM neither provided a full list of closures nor the specific reasons why it is ending service in the eight markets.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Libra Association, formed by major financial partners of Facebook's Libra cryptocurrency project, formalized the association at the inaugural Libra Council meeting of the members at its headquarters in Geneva, Switzerland. The current 21 member organizations formally signed onto the Libra Association charter, elected the Board of Directors, and appointed the executive team. Department store chain Kohl's Corp. has unveiled its Kohl's Cares holiday collection that includes the Disney Frozen 2 and Holiday Character bundles. The company's philanthropic program, Kohl's Cares, sells children's books as well as toys and donates the entire profit to charitable initiatives nationwide. Children's Place Inc. (PLCE) said that it will relaunch the Gymboree brand in the U.S. and Canada in early 2020. The brand will be relaunched in Gymboree website, and in shop-in-shop locations in more than 200 Children's Place stores in the U.S. and Canada.
Follow RTT
>