Lyft And GM Are beginning A automobile rental carrier together

Lyft and GM, under its automotive-sharer brand “Maven,” will launch a brief-time period car rental carrier for Lyft drivers in Chicago later this month, stories Re/code. the last word purpose of the provider is to let more individuals to transform Lyft drivers.

The apartment application is a partnership between Lyft and GM, which has invested $500 million in Lyft. GM will handle a fleet of Chevy Equinoxes within the Chicago space for the rental software, while both firms will duvet the cost of insurance coverage together. Lyft drivers shall be have the ability to hire a car based on a 3-tiered pricing structure in response to what number of rides they full each and every week.

If a driver completes fewer than 40 rides per week, the driver pays $99 per week for the automobile, plus 20 cents per mile driven. If a driver completes between forty and sixty four rides per week, the driver most effective can pay the $ninety nine weekly price. And if a driver completes 65 or more rides every week, the motive force pays no apartment fee in any respect.

“that is geared towards the hundreds of thousands of americans throughout the usa [who] don’t have get entry to to a automobile that’s certified to power for the platform,” Lyft cofounder and CEO John Zimmer told Re/code. “This solves an important component of it that most likely isn’t that you can think of without the kind of relationship we have with basic Motors, so it becomes a major differentiator.”

After Chicago, Lyft and GM plan to roll out the auto rental provider in Boston, Washington, D.C., and Baltimore, though no timeline used to be given for those launches. Zimmer is reportedly confident within the success of the initiative as a result of in Chicago by myself there had been 60,000 first-time Lyft applicants without access to a vehicle that meet Lyft’s qualifications. across all 4 cities the place the condominium application will ultimately roll out, one hundred fifty,000 applicants in complete currently lack get entry to to automobiles that meet Lyft’s skills.

in addition to the driving force automotive-rental software, Lyft and GM are also engaged on another major initiative: an on-demand community of independent GM autos on the Lyft platform, says Re/code. however, that program is still a number of years down the highway.