Fare Co-op – A California Driver-Owned Rideshare Platform Empowering Drivers to Own the Driverless Vehicles of Tomorrow

Fare Co-op empowers drivers to own future driverless vehicles, offering 20% lower fares, no surge pricing, and higher earnings, reshaping the rideshare industry

LOS ANGELES, CA, UNITED STATES, November 25, 2024 /EINPresswire.com/ -- Fare Co-op, a rideshare platform, introduces a transformative driver-ownership model aimed at reshaping the industry. While many rideshare companies are shifting towards autonomous vehicle fleets, Fare Co-op emphasizes driver empowerment, allowing them to own and operate the vehicles of the future. This initiative not only challenges the current industry trajectory but also enhances professional opportunities for drivers. The platform provides fares up to 20% lower than industry standards, with no surge pricing, ensuring consistent savings for riders, whether during peak hours or late-night trips.

Fare Co-op offers drivers the opportunity to earn 85% of each fare, ensuring that member-owners are not only earning but also investing in their own future. Even non-member drivers earn 55%—a significantly higher percentage than what is commonly offered in the industry. This ownership model motivates drivers to deliver exceptional service, as they are deeply invested in the platform’s success.

As automation technology progresses and driverless cars become a reality, Fare Co-op is committed to supporting its drivers by ensuring that they can own and operate these new vehicles, thus securing their financial future. This approach contrasts sharply with the direction many other companies in the industry are heading, where drivers face displacement.
For riders, Fare Co-op Provides high-quality service and up to 20% lower fares, without the inconvenience of surge pricing. Choosing Fare Co-op means supporting a system where drivers are fairly compensated while enjoying exceptional service.

Fare Co-op has introduced a comprehensive two-tier referral program that enables participants to earn income through referrals of both drivers and riders. Participants referring over 100 active drivers, passengers, or a combination of both may earn significant monthly residual income or free rides. The program designates 25% of the federation's net profits to this initiative, with referrers receiving up to 80% of these profits for each ride completed by their referrals. This strategy aims to expand the cooperative's reach while rewarding active members for their contributions to growth.

Ivan Olivo, newly appointed CEO of Fare Co-op/Local Driver Co-op Federation, said, "I am proud to be part of an organization that truly values its drivers rather than seeking to replace them with autonomous vehicles. Drivers are the foundation of the rideshare industry, and Fare Co-op is ensuring they have a secure future in the evolving transportation landscape."

Ahmed Attia, Chairman of the Federation, added, "This model has the potential to transform not only the ride-hailing industry but any sector facing the threat of automation. Companies that partner with us will distinguish themselves from the competition by making the ethical choice."

About Fare Co-op

Fare Co-op (Local Driver Co-op Federation) is a driver-owned rideshare platform designed to empower drivers, provide unmatched savings, and lead the future of transportation. For more information, visit www.fare.coop.

Danny Golnik
Fare Co-op
+1 737-363-8861
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