Lyft

Lyft debuted the design of its new bike on Thursday after wrapping up its acquisition of bike-sharing startup Motivate.

The ride-hailing company announced the acquisition in July, saying Lyft would acquire Motivate's technology and corporate functions and the company would be known as Lyft Bikes. Motivate's bike maintenance and servicing operations would remain a standalone business and keep the Motivate name, the company said.

Motivate has bike share systems in several major US cities, including New York (Citi Bike), Chicago (Divvy) and the San Francisco Bay Area (Ford GoBike). Last year, 80 percent of US bike share rides happened on Motivate systems, according to Lyft.

"With this acquisition, we are poised to help take bike share to the next level: adding thousands of bikes and stations in communities that haven't had access to transportation; making bike share membership more convenient and affordable than ever; and deploying new electric bikes, on a major scale," Lyft said in a blog post.

Its new bike appears to carry the ride-hailing company's signature purple color, and has "Lyft" written on the cover of the back wheel. The company says bike share can help improve transportation access and sustainability.

"Today, Lyft takes a large step forward in our vision to provide a more sustainable transportation experience that will bring together all your favorite ways of getting around into one unified Lyft app," co-founder and President John Zimmer said in a statement.

The company rolled out dockless electric scooters in Denver earlier this year, where the company says scooter trips make up around 15 percent of its total rides. It also launched scooters in Santa Monica, and has said it plans to expand the service to 10 more cities by the end of the year.

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