• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

Current price of oil as of June 23, 2026

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

Current price of oil as of June 23, 2026
TechFortune 500

GM, Lyft Deepen Partnership With Short-Term Car Rental Service

By
Kirsten Korosec
Kirsten Korosec
Down Arrow Button Icon
By
Kirsten Korosec
Kirsten Korosec
Down Arrow Button Icon
March 15, 2016, 12:01 AM ET
Courtesy of GM
Add Fortune on Google for similar content.

General Motors and new business partner Lyft are launching a short-term car rental program aimed at bringing on more drivers to the ride-hailing service.

The Express Drive program, which will kick off in Chicago and then head to Baltimore, Boston, and Washington, D.C., is a signal that the two companies are beginning to act on a partnership that was announced in January. GM also invested $500 million into Lyft at the time. The service will be eventually offered in cities across the U.S., Lyft co-founder John Zimmer told Fortune in a phone interview.

The recent partnership is part of automaker’s long-term vision: a network of GM self-driving cars within Lyft’s service that can shuttle passengers around town without a driver. But with self-driving cars still years away, GM (GM) and Lyft are focusing their efforts on building out the service. And that means more drivers.

Get Data Sheet, Fortune’s technology newsletter.

Finding drivers who own a “qualifying” car is the Lyft’s biggest obstacle to scaling its business, Zimmer said. In Chicago alone, there were 60,000 people who applied to become a driver, but were denied because they didn’t have a car that qualified. Between all four cities, some 150,000 people were denied because their cars didn’t qualify. Under Lyft’s rules, a car must be a 2004 or newer (in some cities the vehicles must be at least a 2008 model), have four doors, and pass other basic safety requirements such as functioning lights and seat belts.

“We’ve now made car ownership optional on both sides of the two-sided market,” Zimmer said, explaining that now drivers and riders can use the service without owning a car.

Lyft as well as rival Uber have a history of drumming up ways to attract drivers, even for people who don’t own cars. Uber announced in December a program that gives Uber-approved drivers in Denver access to discounted rental cars through Enterprise Rent-A-Car. In October, Lyft announced a deal with Hertz to provide its drivers with lower daily, weekly, or monthly car rental rates.

The Hertz program will continue, Zimmer told Fortune.

The Express Drive program will initially offer 125 Chevy Equinox crossovers to Lyft drivers in Chicago. Drivers can rent the car between one and eight weeks and will be rewarded the more they drive. The cars will be rented out for $99 a week and 20 cents a mile to drivers who complete 40 rides or less a week. Once they surpass that number, the per-mile charge is dropped. If a driver completes 65 rides or more in a week, the rental is free. The rental fee covers the cost of insurance and maintenance. GM will shoulder the cost of the maintenance.

Of course, the question is how likely is it that the average driver will exceed 65 rides a week. Lyft doesn’t share those numbers. But a spokeswoman did say that the average Lyft driver completes three rides an hour. A quick back-of-the-envelope equation and a driver would have to work nearly 22 hours a week to hit 65 rides.

“We’re looking to scale quickly,” said Julia Steyn, GM’s head of urban mobility, during a conference call with reporters. “We’re still assessing the demand, it seems very strong.” Steyn said the program aims to build infrastructure that is a critical and important step to its plan to jointly develop and integrate an on-demand network of autonomous vehicles.

Over the past seven months, GM has announced a number of initiatives and acquisitions that illustrates its aggressive push into unconventional transportation such as car-sharing as well self-driving cars.

In January, GM introduced a car-sharing service Maven, which combines and expands several of the automaker’s existing test programs under one brand. Maven is really three car-sharing services in one: a city-based service that rents GM vehicles by the hour through an app, another for urban apartment dwellers in Chicago and New York, and a peer-to-peer sharing service that started in Germany last year.

GM also purchased the assets of the defunct Sidecar, and last week shelled out more than $1 billion for self-driving tech startup Cruise Automation.

GM bought a self-driving car startup. Watch:

The Cruise Automation acquisition follows GM’s move to create a team dedicated to the development of self-driving car technology within the company.

Lyft, in the meantime, benefits from a major company with easy access to cash as well as a global footprint—the very resources the startup needs if it hopes to compete with rival service Uber.

About the Author
By Kirsten Korosec
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

How Home Depot is rebuilding retailing with AI
NewslettersCIO Intelligence
How Home Depot is rebuilding retailing with AI
By John KellJune 24, 2026
2 hours ago
bob
AIbooks
Robert Wright sees an ‘earthquake’ coming from AI that goes far beyond jobs: ‘cultural, political, personal, family, psychological’
By Nick LichtenbergJune 24, 2026
2 hours ago
A man wearing a red and black jacket and a red hat walks down a hallway lined with servers.
InnovationChina
For the first time since 2017, it’s China, not the U.S., that has the world’s most powerful supercomputer
By The Associated PressJune 24, 2026
3 hours ago
Jack Schlossberg, Kennedy scion and sardonic social media star, loses in bid for New York state assembly
PoliticsPolitics
Jack Schlossberg, Kennedy scion and sardonic social media star, loses in bid for New York state assembly
By The Associated Press, Danny Peltz and Anthony IzaguirreJune 24, 2026
3 hours ago
Matt Garman
Successthe future of work
Amazon exec says AI won’t wipe out white-collar jobs—and is hiring 11,000 grads and interns, and has more developers than 2 years ago to prove it
By Preston ForeJune 24, 2026
4 hours ago
NYC Mayor Zohran Mamdani 3 for 3 on his ‘better Democrats’ endorsements: ‘Put working people back at the heart of politics’
PoliticsNew York City
NYC Mayor Zohran Mamdani 3 for 3 on his ‘better Democrats’ endorsements: ‘Put working people back at the heart of politics’
By The Associated Press, Jesse Bedayn, Thomas Beaumont and HUMERA LODHIJune 24, 2026
4 hours ago

Most Popular

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
1 day ago
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
Economy
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
12 hours ago
Current price of oil as of June 23, 2026
Personal Finance
Current price of oil as of June 23, 2026
By Joseph HostetlerJune 23, 2026
1 day ago
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
Banking
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
By Jim EdwardsJune 23, 2026
1 day ago
Current price of gold as of June 23, 2026
Personal Finance
Current price of gold as of June 23, 2026
By Danny BakstJune 23, 2026
1 day ago
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
Real Estate
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
By Sydney LakeJune 22, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.