If 10% of NYC commuters biked to work instead of driving or taking transit just once per week, they could save 120 million pounds of CO2 emissions per year, equivalent to the amount released by the homes of 25,000 New Yorkers.

54% of all trips New Yorkers make are less than two miles. Bike share will make these trips cheap, easy, efficient and fast. Bike share also leverages the city's great mass transit system, extending the reach of transit into areas which aren't easily accessed.
Citi Bike will consist of 600 stations, 10,000 bikes in Manhattan, Brooklyn and Queens.

Scheduled to launch in New York City in May 2013

Read more about how it works here.