Here's how much it will cost to take Uber and Lyft in Vancouver

After the provincial Passenger Transportation Board (PTB) announced today it has officially approved applications for ridehailing operators Lyft and Uber in the province, both companies have now unveiled their pricing structure.

Uber announced this morning that for its customers, there will be a base booking fee of $2, a base fee of $2.50, for a total of $4.50. The per-kilometre rate is 70 cents, and the per-minute rate is 33 cents.

For Lyft, the base fare will be set at $2.50, along with a service fee of $2.50, as well, for a total of $5. The cost-per-kilometre will be 65 cents, and the cost-per-minute will be 33 cents.

Last night, Uber announced that it would be launching in Vancouver on Friday after the City of Vancouver issued its first ride-hailing business licences to Lyft and Uber Thursday, Just hours after the PTB announced its approval.

• See also:
  • City of Vancouver to approve licences TODAY for Lyft and Uber to operate
  • “I might cry”: Vancouverites react to FINALLY receiving rideshare
  • Lyft unveils pricing structure for Metro Vancouver ride-hailing customers

Speaking about the decision on Thursday afternoon, the city’s chief licence inspector Kathryn Holm said both companies are now able to start putting cars on the road.

The city has already established a business licence structure of annual fees of $155 per ride-hailing company and $100 per vehicle, plus 30 cent pick-up and drop-off fees within the downtown Vancouver peninsula and Central Broadway Corridor.

Following the announcement by the PTB, Vancouver Mayor Kennedy Stewart said the city has been “working hard behind the scenes to make sure that once provincial regulators approved applicants like Lyft and Uber, our staff can turn around business licences in three days or less.”

Vancouver, he added, “is ready for ride-hailing.”