RelayRides launches US-wide peer-to-peer car sharing marketplace; car2go car-sharing expands to new cities
5 March 2012
Peer-to-peer car sharing service RelayRides is expanding and is now available to car owners and renters nationwide. RelayRides’ model is based on neighbors renting out their cars to fellow neighbors, instead of one that requires ownership and maintenance of a car fleet.
RelayRides will use a key-exchange program—i.e., the owner handing the key over to the renter—a method the company calls a “frictionless” way to enable peer-to-peer sharing.
The company also recently announced an exclusive relationship that will allow millions of GM vehicle owners to leverage the OnStar system to rent out their idle cars through the RelayRides marketplace, with no additional hardware installation needed.
Covered by a $1-million insurance policy, RelayRides owners can make an average of $250 per month in revenue while providing drivers with access to a vehicle for as little as $5 per hour, according to the company. RelayRides is backed by more than $13 million in venture capital funding from investors including Google Ventures and GM Ventures.
Separately, Daimler car-sharing subsidiary car2go car2go North America, LLC, announced it will launch in two new cities: in Washington, DC beginning 24 March and in Portland, Oregon beginning 31 March.
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