GM Launches Rental Program For Lyft Drivers

General Motors and ride-sharing company Lyft announced the launch of an exclusive short-term rental program called Express Drive.

The new rental program will be available exclusively to Lyft drivers at affordable rates, including insurance and maintenance costs.

Starting from Chicago, GM will offer a fleet of 125 Chevrolet Equinoxes to the platform’s drivers for up to eight weeks, and the cost depends upon how many rides the driver completes per week.

Prices start at $99 per week and 20 cents a mile for drivers that complete fewer than 40 rides. Drivers who offer 40 to 64 rides per week will get the mileage fee deducted from the total cost of the rental while those who complete 65 or more rides get the car for free.

This new short-term rental program comes two months after GM entered a strategic alliance with the popular ride-sharing company in order to develop an integrated on-demand network of autonomous vehicles.

“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. “We’re making sure everyone who wants to be a Lyft driver can be, by providing ultimate flexibility at incredible rates.”

GM President Dan Ammann said, “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.”

The Express Drive program will soon roll out to additional cities including Boston, Washington D.C., Baltimore and others.