According to Michael Arrington from TechCrunch, Google will release GDrive (Google Drive) in the coming weeks. However, it will not be called GDrive or Google Drive, instead, it will be integrated in Google Docs.
... you can soon upload any file type at all to Google Docs, not just the dozen or so Office formats that the service allowed as of yesterday. Video files. Images. Audio Files. Even Zip files. As long as those files are 250 MB or smaller, you’re good.
Regular users have 1 GB of free storage and can purchase more for $0.25/GB. Enterprise customer pay higher prices, starting at $17/year for 5 GB. There are no bandwidth charges.
Three partners have been working with Google to build value add features on top of the new product. The most interesting, Memeo Connect (from Memeo), lets users sync files between the desktop and Google Docs.