Lyft Letting Drivers Rent Cars from General Motors
- Updated: March 16, 2016
The platform, Express Drive, lets drivers at Lyft rent vehicles from General Motors. It kicks off first in Chicago before it will make its way to other U.S. cities including Baltimore, Boston and Washington, D.C.
In Chicago alone last year, 60,000 people filled out applications to be Lyft drivers but their car did not qualify, under the guidelines of the company.
Express Drive will solve that problem, said company officials. It offers millions of possible drivers a new way to earn money while they drive under the Lyft program.
This news follows the $500 million GM invested late last year in Lyft. The investment, which is just a part of a $1 billion funding round for the ride-hailing platform, promised to incorporate GM vehicles into the Lyft platform. However, at the time of the investment not many details were released.
In addition, both companies will collaborate on new technologies that include cars that are self-driving.
According to each company, the new service will give people who want to be drivers with Lyft an easy way to rent a vehicle for a fee. Regular drivers at Lyft, however, will not need to pay that rental fee, while those who drive more will not have to pay the full amount over time. Simply put, the more passengers you carry the less you will pay.
Lyft, on its Internet site, is advertising the Chevrolet Equinox for no additional charge provided the driver successfully completes 65 rides in one week.
Although, if you use that vehicle for your personal use, the cost is 20 cents per mile.
With 40 rides completed during a week, it will cost $99 for the week, give less than 40 rides a week and the cost will be $99 for the week and 20 cents per mile.
Each of the cars in Express Drive includes insurance as well as maintenance. They can be rented for a period of 8 weeks each team.
Lyft is attempting to add thousands of new drivers to its platform as it attempts to close in on the No. 1 ride-hailing service in the U.S. Uber.
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