Riding an electric Citi Bike will soon be slightly more expensive. Lyft, the company that operates the popular bikeshare program, announced a price hike due to higher-than-expected costs for battery swapping, insurance, and vehicle maintenance.

Price increase due to rising costs

Lyft explains that the cost of swapping batteries, insuring e-bikes, and maintaining the fleet has risen significantly since rates were set in December 2023.

 Battery swapping, insurance, and vehicle expenses driving the increase

To address these rising costs, Lyft is collaborating with the city's Department of Transportation and Con Edison to test charging stations. This could reduce operational expenses in the long run.

Investing in charging stations for future cost reduction

 Lyft assures users that they'll keep investing in manual battery swapping to ensure a sufficient supply of charged and available e-bikes.

 Continued investment in manual battery swapping

 The price hike comes as e-bikes become increasingly popular, making up two-thirds of all Citi Bike rides.

E-bike popularity on the rise

 Non-member day pass and single trip rates: 30 cents to 36 cents

Breakdown of price increases

Lyft emphasizes that the new fares still fall below the maximum limit established by the city's Department of Transportation.

Price increase remains below city's set cap

 Mamoudou N'diaye, a Citi Bike user from Ridgewood, Queens, expresses his frustration with the price increase. He feels the 4-cent hike is excessive and questions why users should shoulder internal company costs like insurance.

 User concerns about the price hike

 N'diaye raises a concern that riders shouldn't have to pay for higher insurance premiums, especially when accidents involving e-bikes are still happening.

Balancing affordability with safety concerns

The new pricing structure will take effect on July 10, 2024, and will only apply to New York City, not New Jersey.

Effective date and location of price increase