SPRINGFIELD, Mass. -- Peter Pan Bus Lines and Greyhound Lines are setting up a joint operation to compete with the ethnic bus lines operating in the heavily traveled northeastern U.S.

The reduced-fare, curbside service will be called Bolt.

Although neither company would provide details about the new opertion, a Greyhound spokesman acknowledged that the carriers have gotten together to develop the service.

"We have formed an affiliation with Peter Pan and we are developing a customer-focused service that will target a specific consumer segment," said spokesman Dustin Clark.

He declined to elaborate on his statement and would not answer any questions.

Peter Pan President Peter A. Picknelly said the companies had agreed that any public statements about the affiliation would come from Greyhound and he referred questions to Greyhound.

The joint venture primarily will compete with the cut-rate Chinese-American owned operations, such as Fung Wah, that serve the Boston-New York City-Washington corridor.

However, the service also is being seen as a preemptive strike to keep megabus.com from expanding into the Northeast, which has been an item of speculation since megabus began operating in the Midwest in April 2006.

With the exception of using Boston's South Station Bus Center, all other stops will be on street corners like the Chinatown operators.

A fleet of new Prevost X3-45 coaches has been ordered to operate the service (see Feb. 1 Bus & Motorcoach News) and 50-plus drivers are being hired through monster.com to staff the company.

Although both Peter Pan and Greyhound reportedly have indicated the new operation will be a union shop that must be decided by an employe vote once the new operation begins.

Industry sources said Bolt will have its own maintenance facility in Secaucus, N.J.

It is unclear whether Bolt drivers will collect fares, like Fung Wah, or bookings will be purchased online, via the Internet, a la megabus.com.

For nearly a decade, Greyhound and Peter Pan have had a pooling arrangement for their conventional line-run services in the Northeast.