GM & Lyft to launch short-term rental program for Lyft drivers
Steve’s breakdown: Someone has to tell the masses this service will allow anyone to be a Lyft driver. Might as well be you.
SAN FRANCISCO, CA & CHICAGO, IL: General Motors Co. on Tuesday said it’s collaborating with ride-sharing service Lyft to launch an “Express Drive” short-term rental program for Lyft drivers in select cities later this year.
The program will let Lyft drivers rent cars starting at $99 per week, including insurance and maintenance. When drivers complete 65 rides a week, they’ll be able to rent a vehicle for free. The Detroit automaker said the service would begin later this month in Chicago and will soon expand to cities like Boston; Washington, D.C.; Baltimore; and others.
“We’re very pleased with how quickly the GM and Lyft team collaborated to create the Express Drive program, which we will be implementing using our Maven mobility infrastructure,” GM President Dan Ammann said in a statement.
In Chicago alone, GM said there were 60,000 people who applied to drive on the Lyft platform, but did not have a car that qualified. Express Drive would directly address this problem. In Chicago, the program will use a fleet of Chevrolet Equinoxes.
“Launching Express Drive is another way we treat drivers better, in addition to Power Driver Bonus, tips and same day payouts,” said John Zimmer, Lyft’s president and co-founder, in a statement. “We’re making sure everyone who wants to be a Lyft driver can be, by providing ultimate flexibility at incredible rates.”
GM earlier this year announced it was investing $500 million in the ride-hailing service.