Lyft to Raise NYC Electric Citi Bike Fares 20%
- Company blames expenses related to battery swaps, insurance
- State of NYC Citi Bike stations led to comptroller complaint
A Citi Bike stand with electric bikes available for use through a membership or daily rental in New York City.
Photographer: Deb Cohn-Orbach/UCG/Getty ImagesThis article is for subscribers only.
Lyft Inc., which operates the popular Citi Bike program, said it will raise fares for e-bike rentals in New York City by 20%, blaming higher-than-expected operating costs.
On July 10, e-bike fees for those with an annual Citi Bike or Lyft Pink All Access membership will increase to $0.24 per minute from the current $0.20, according to an announcement on Citi Bike’s website. Non-members will see fees raised to $0.36 per minute from $0.30.