Detroit Bike Share plans to launch the city's first public bicycle rental system in late May.

The system is named "MoGo," in reference to "Motown, motion, movement, mobility, Motor City," with "Go" representing the future of mobility in the city, said Detroit Bike Share founder Lisa Nuszkowski in a Wednesday press conference.

"It really points to that with our history as well as our future," Nuszkowski said.

MoGo launched its website Wednesday where people can learn how it works, buy passes and view a station map.

The map is still being finalized, but MoGo will have 43 stations across the city and 430 bikes.

The bikes were assembled at MoGo's 10,000 square-foot warehouse in Detroit's Milwaukee Junction neighborhood, which currently holds 18 seasonal and permanent employees.

The $2-million project was funded through a federal grant, philanthropic support from Hudson Webber Foundation, Knight Foundation and Kresge Foundation and sponsorships from Henry Ford Health System and HAP.

"The neat thing about all this mobility coming in at one time ... the protective bike lanes and the way we're starting to change infrastructure downtown, all that becomes truly a full system," said Eric Larson, CEO of the Downtown Detroit Partnership.

At the station kiosks, riders insert a credit or debit card -- Visa or Mastercard -- and receive a code to unlock a bike. A green light turns on, a bike is unlocked and riders can insert the wheel back onto the station bike locks when finished.

Kiosks function in both English and Spanish. Monthly and annual membership keys can be inserted into a bike card reader itself versus the kiosk.

Pass rates:

Daily, $8

Monthly, $18

Annual, $80

Access annual (for people with state benefits), $5

Bikes are meant to be taken for 30-minute intervals within the time frame purchased. If a user exceeds 30 minutes, they'll be charged $2 to $4 for each additional 30 minutes.

Lost bikes will result in a $1,200 charge to the user's credit card.

Nuszkowski said it's an "incentive to return the bike to the station."

"We'll reach out to you to make sure you didn't keep it out longer than intended," she said.

Riders can download Transit App or CycleFinder to purchase a bike or locate stations and available bikes.

At the Detroit Policy Conference in March, Nuszkowski emphasized that with the upcoming May 12 launch of the QLine streetcar, people can use the bike share system to get to their destination that may require walking an extra 10 to 20 minutes from the QLine stations.

Larsen said the bike share could help bus and train riders cover that last mile.

"Every time we do something that is recognized as almost a staple in most other cities, we become more real," said Larson. "Detroit has tremendous real pieces but every time we do something like this and we get smarter about the way we are delivering options for mobility ... We become a more real, more sustained, and quite frankly a more whole city."