Lyft is doing its part to make California just a touch greener with new guidelines on transitioning drivers over to electric vehicles with the introduction of new EV incentives.
This comes on the heels of previous commitments to become greener with a robust promise of having all Lyft drivers using EVs by 2023.
The recent announcement acts as a step in the right direction. So what do the new incentives entail, and how do they impact drivers? Read on to find out!
Regarding these new EV incentives, Lyft’s Director of Sustainability, Paul Augustine says,
“Electrifying our transportation network is a crucial step in helping reverse the negative impacts of climate change. We know many drivers on Lyft want to switch to EVs, which is why we’re focused on addressing the biggest barriers they face in transitioning: upfront costs and access to charging. These offerings are the latest in many steps we are taking to support drivers in switching to an EV on Lyft.”
The New Earnings Incentive
California drivers have a unique opportunity to capitalize on when it comes to the new EV incentives: they can receive an additional $150 every week until the end of 2024 as long as they give 50 rides in their EVs.
However, to be eligible for this bonus, you must register your EV with the platform by 2023. And don’t worry!
You’re not restricted to one-time payments; rather, you will keep earning this incentive each and every week – up to a total amount of $8100! Find more details here.
EV Charge Discounts
Get ready to save big while charging your electric vehicle this week, thanks to the new EV incentives!
US drivers who link their EVgo accounts with Lyft will receive an amazing 45% discount on EVgo’s standard Pay As You Go rates, applicable for Gold and Platinum drivers in selected markets.
All you have to do is go the Lyft Rewards page on the Driver app, where you can easily connect your accounts at any time! Find more on the partnership with Evgo here.
Cashback
With the Lyft Direct debit card, drivers can enjoy up to a remarkable 7% cashback on public charging!
This incredible benefit is determined by your Lyft Rewards tier: Platinum members receive an astounding 7%, Gold get 3%, Silver earn 2%, and all other cardholders will still gain 1%.
All these amazing rewards are available with Mastercard accepted at various stations across the US.
Options for Home Charging
To make home charging more accessible and affordable, Lyft is also offering its drivers exclusive Wallbox discounts on Level 2 (L2) charger hardware as well as pre-negotiated installation rates with COIL.
How Is Lyft Going to Bring More Electric Vehicles to Drivers?
As part of the EV incentives, Lyft announced it is working to bring additional EVs from partners like Hyundai, Kia, Ford, Polestar to the company’s Express Drive rental program.
If you’re unfamiliar, the Express Drive program allows drivers who don’t have a car to rent one in order to work days or weeks at a time, thanks to a rental car.
By phasing out gas cars in the Express Drive program, Lyft effectively moves more drivers to rely on electric cars. The goal is to provide an EV option that is accessible and affordable for more Lyft drivers.
Additional Reading: Your Full Proof Guide To Understanding A Lyft Earnings Statement
Lyft is also offering an educational website so that drivers can learn how an eclectic vehicle may (or may not) be right for them.
Driving an EV can get you up to $7,500 in federal incentives and more savings from state and local governments, EV owners save on fuel costs year after year, and EV are ideal for 90% of Lyft drivers who drive fewer than 230 miles daily.
Lyft’s Previous Green Strides
Back in 2020, Lyft committed to moving toward a sustainable business model during the thick of COVID-19 setting the goal of 100% EVs by 2030. At the time, John Zimmer, co-founder of Lyft said,
“Now more than ever, we need to work together to create cleaner, healthier, and more equitable communities… Success breeds success, and if we do this right, it creates a path for others. If other rideshare and delivery companies, automakers and rental car companies make this shift, it can be the catalyst for transforming transportation as a whole.”
What This Change Means for Drivers
For drivers looking to follow a greener path or simply those who want to save on gas prices, the EV rental fleet is a great decision.
Alternatively, if for whatever reason, a driver is not a fan of electric vehicles – perhaps because they anticipate driving more than the average range in a day – an entirely green mandate by 2030 can be daunting.
The fact is, not everyone feels comfortable with eclectic vehicles, and for those going long distances, finding a charging station and the waiting time for a charge can be difficult.
As Lyft’s EV incentives continue to develop toward that goal of all-electric by 2023, it’s important to keep an eye on the latest from Lyft and similar gig companies.
Benefits of an Electric Vehicle
- Reduced emissions and improved air quality
- Lower fuel costs
- Quieter operation compared to gasoline engines
- More reliable since there are fewer moving parts in the powertrain
- Higher torque output for quicker acceleration
- Longer driving range due to improvements in battery technology
- Government incentives for purchasing electric vehicles
- Potential tax credits or other financial incentives when used for business purposes
- Ability to recharge quickly, especially with the use of a fast charger
- Fewer maintenance requirements since electric motors require less servicing than gasoline engines
- Lower total cost of ownership compared to gas vehicles in many cases.
The Bottom Line
Lyft’s commitment to moving toward electric vehicles shows that the rideshare company is serious about reducing emissions and taking steps toward a greener future. This commitment is further solidified with the new round of EV incentives.
Their educational website provides valuable information for drivers who are considering an EV so that they can make an informed decision on whether or not it’s the right option for them.
Visit the site to check out the latest EV incentives and learn about how an EV might be right for you and impact your ridesharing!