Uber and two other ride-hailing companies have been working on a new city partnership to invest in cities that need their services.
The two companies have also formed a joint venture with the National Tree Company, which provides the equipment and services for electric bike companies to sell their bikes, said the companies’ press release, which was sent to Axios.
The National Tree’s headquarters are in North Carolina, and the company has been trying to raise capital in the New York area for several years.
The companies said that they will spend $1.6 billion in the new cities, which will include $500 million to $1 million in investments in electric bike infrastructure.
The company said that the investments will be focused on cities where the two companies are already operating.
The company said they will invest in two major cities, Brooklyn and New York City, with a focus on bike-share and electric bike technology.
Uber, which has offices in California and has built its business around its ride-sharing service, will invest approximately $400 million in the first two cities, the company said.
Uber has invested about $1,300 million in New Jersey over the last five years, including a $2 million investment in the state in February, and Lyft has invested approximately $300 million over the same period.
The companies also have partnered with New York’s Taxi and Limousine Commission to help launch a pilot program in Brooklyn.
Uber and Lyft are partnering to launch a service called Uber Connect, which allows customers to order a ride from an app, or from the company’s app, and then return home, with the ride arriving within a certain time frame.
The service is a way for riders to use Uber and to make an in-person connection with an Uber driver.
The two companies said the pilot program will help expand the company to more cities and areas.
“We want to be the leader in these types of new cities,” Uber’s CEO Travis Kalanick said in a press release.
“Our goal is to help drive growth for ride-share companies in every city.”