Lyft invests $100 million in its drivers

Lyft is committing $100 million to better support its drivers. The company is specifically putting this money toward cheaper oil changes, basic car maintenance, serviced car washes and more. Lyft will also almost double its operating hours at its driver hubs in 15 cities throughout the nation.

The idea is to help drivers make more money and maximize their earnings by offsetting the costs of driving. Other benefits will include car and SUV rentals, tax education and more.

Lyft also says it expects to more than double its driver base in the next five years. Currently, Lyft has 1.4 million drivers, according to its latest economic impact report.

“Just as advancements in aviation technologies haven’t reduced the need for pilots or flight staff, there’s still security in the future for the 1.4 million people who depend on driving for an income,” Lyft COO Jon McNeill wrote in a blog post. “We are in the business of supporting our drivers for the long haul. Period.”

McNeill joined Lyft just earlier this year from Tesla, where he was president of global sales and service.

Given that a number of Lyft drivers also drive for Uber, Lyft will likely tier some specific perks and discounts based on number of driver hours, a Lyft spokesperson told TechCrunch.