Companies offer additional revenue to gig economy drivers

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Companies see opportunities to help gig economy drivers go digital by offering them more apps, screens and electric cars.

In a recent example, Hyundai and Firefly announced on April 4 that they are working together to promote Hyundai vehicles equipped with Firefly’s in-car and on-car advertising screens to rideshare fleets and drivers.

In this pilot program, fleet owners and individual drivers can buy a new vehicle, have the screens installed, and then earn advertising revenue while they’re on the road. The companies report that those who participate can earn up to $3,600 a year.

“We are excited to be partnering with Firefly on this program as we both are committed to completely transforming the way cities look and function with automotive-centric technology,” Fred DePerez, vice president of product line management and sales planning at Hyundai Motor America , said in a statement.

Rent vehicles, offer additional options

With the announcement, Hyundai and Firefly join other companies that have launched programs that offer products and services specifically aimed at gig economy drivers.

Hertz announced in October that it had partnered with Uber to make up to 50,000 Tesla electric vehicles available for Uber drivers to rent through 2023. The program offers participating drivers a preferred weekly rate, no need to buy or lease a car, and access to discounts on electric vehicle charging.

Continue reading: Hertz expands investment in “modern mobility ecosystem”.

“We’re seeing strong driver interest and participating drivers are seeing increased revenue,” said Mark Fields, who was Hertz’s interim CEO at the time, on Feb. 23 during the company’s quarterly conference call.

Another company, EVmo, is dedicated to providing rental vehicles for ride-sharing and last-mile delivery drivers and delivery companies in the gig economy. The company operates in seven metro areas in the US, has a fleet of 600 vehicles and states that the total addressable market for vehicle rentals to gig economy drivers is between 300,000 and 500,000 vehicles.

See more: Gig Economy drivers rent out more than 300,000 vehicles

In November, EVmo launched a crowdsourced delivery app that gives renters exclusive access to delivery options on its platform.

“We expect the ridesharing industry metrics to continue improving in terms of end users and vehicle demand drivers,” EVmo CEO Stephen Sanchez said on March 31 during the company’s quarterly conference call.

Providing scalable monetization opportunities

The new collaboration between Hyundai and Firefly focuses on drivers and fleets in the shared mobility, taxi, ridesharing, groceries, groceries and last-mile delivery segments.

The companies found that the bonus revenue drivers can earn from advertising revenue can help them cover monthly car leasing or financing costs for new Hyundai vehicles.

The pilot program, dubbed “Hyundai Drive by Firefly,” is supported by Hyundai CRADLE, the automaker’s open innovation center that partners with and invests in global startups.

“At CRADLE, we understand that greater mobility options greatly improve people’s lives,” said Henry Chung, senior vice president and head of Hyundai CRADLE, in a statement announcing the partnership. “Hyundai Drive by Firefly will provide scalable monetization opportunities for the future of mobility and accelerate the adoption of Hyundai vehicles among Firefly drivers and fleets.”

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