The Detroit, Michigan-based General Motors Company (NYSE:GM) has decided to expand their car sharing service to Los Angeles. Launched about a year back, it would be their tenth city in the United States. Also called Maven City, the car sharing program was earlier this year launched in Washington, D.C., New York City, Chicago, Detroit, Baltimore, Boston, and Ann Arbor in Michigan. The company introduced the service in San Francisco only recently.
The Maven City Car-Sharing Service
There are three services under Maven City – an app-based city sharing where GM vehicles are rented by the hour, one for apartment dwellers in urban areas, and there is also Express Drive that is a peer-to-peer sharing plan. The business leases new Cadillac (CTS, CT6, ATS, XT5), the Yukon and Acadia of GMC, Malibu, Tahoe, and Chevrolet Cruze vehicles for $6 to $8 for each hour. Escalade of Cadillac is going to be available soon. The cost includes fuel, unlimited 4G data, and insurance. There are no application fees or monthly charges for members.
Lunched less than a year back, Maven City has already become quite popular. There have been more than 12,000 bookings. General Motors has revealed that 11,000 people have driven about 23 million miles using their services.
GM says that through Maven, they want potential customers to test drive the latest models. Lyft drivers are also able to ask for Maven cars by the hour.
The Los Angeles Plan
In Los Angeles, initially, there is going to be 60 vehicles that will be located in 24 sites across the city, including the downtown, South Park, and the Little Tokyo neighborhood. Cars will be located close to the University of Southern California gate as well. Four vehicles are going to be parked near the university gate initially, but that number will go up soon when General Motors adds more cars in the city.
Apart from General Motors (NYSE:GM), Toyota too has gone into car-sharing. Many analysts feel that car-sharing may become more common than ownership in the future, so these businesses want an early start.
Toyota (TYO:7203) through Mirai Creation Investment, their investment fund, has invested in the startup Getaround from San Francisco. Getaround currently operates in the cities of California like Oakland, Berkeley, and San Francisco, and also in Washington, D.C. Chicago, and Portland in Oregon.
The startup says they have 200,000 members already. They allow car owners to rent their vehicles and earn up to $10,000 every year.