Lyft threatens to leave Minneapolis if the city raises the minimum wage for drivers, because prices could double and ‘only the most wealthy could still afford a ride’

• The Minneapolis city council has advanced a bill that could raise the minimum wage for rideshare drivers.
• In response, Lyft and Uber threatened to leave Minneapolis and called on the city’s mayor to veto the bill.
• “Prices could double, and only the most wealthy could still afford a ride,” said Lyft.

The Minneapolis city council’s move to hike the minimum wage for rideshare drivers has Lyft threatening to exit the city if the bill becomes law.

The rideshare company said in a Thursday statement seen by Insider the bill would hurt drivers’ earnings because “prices could double and only the most wealthy could still afford a ride.”