General Motors and RelayRides, a peer-to-peer car-sharing company, announced an exclusive relationship that will allow car owners to leverage the OnStar system and rent out their idle cars.
Shasta Ventures and Lisa Gansky are joining Google Ventures and August Capital in boosting the company’s total Series A.2 funding to $10 million.
The latest RelayRides expansion connects even more motorists interested in loaning their cars to neighbors looking for inexpensive access to a vehicle.
Peer-to-peer car-sharing service RelayRides recently received funding from Google’s venture capital arm.
The 12-month pilot program will allow drivers to rent any current BMW model by the hour, from the automaker’s compact 1 series (€16, or $22.29, an hour) to its flagship 7 series sedan (€32 an hour).
New company touts the environmental benefits of car sharing.
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