Share Now, previously known as car2go, will shut down North American service on February 29

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      There will be one fewer car-sharing company in Vancouver by next spring.

      That's because Share Now, previously known as car2go, will cease operations in North America, London, Brussels, and Florence on February 29.

      The company was renamed on November 12 and is owned by Daimler AG and the BMW Group.

      "The decision to close North America was made based on two extremely complicated realities," Share Now stated on its website. "The first being the volatile state of the global mobility landscape, and the second being the rising infrastructure complexities facing North American transportation today—such as a rapidly evolving competitive mobility landscape, the lack of necessary infrastructure to support new technology (including electric vehicle car share) and rising operating costs."

      Share Now will continue offering service in 18 European cities.

      The car2go service was launched in Vancouver in 2011.

      In 2015, it introduced Mercedes B-class vehicles, offering them at the same rate as its Smart Fortwo vehicles.

      Its major local competitors are Modo, Evo, and Zipcar.

      The announcement that Share Now is shutting down came in the same week that the Passenger Transportation Board in B.C. granted its first licence to a ride-hailing company.

      Green Coast Ventures plans to launch its ride-hailing service in the Sea to Sky corridor and in the Tofino-Ucluelet area.