Ford is getting into the recent e-scooter market with the acquisition of California startup Spin

Ford Motor Co. agreed Thursday to amass the electrical scooter-sharing startup Spin, getting into the fast-growing phase of last-mile city mobility.

“The acquisition of Spin is the most recent strategic transfer by Ford within the mobility house, as the corporate builds a mobility portfolio to assist prospects get locations extra simply, extra shortly and fewer expensively,” Ford mentioned in an announcement.

The acquisition worth was not disclosed however information studies mentioned the worth of the deal was between $80 million and $100 million.

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The California-based startup mentioned on Twitter: “We’re excited to announce that Spin is becoming a member of the @Ford staff! Over the following yr, we plan to launch in 100+ markets in shut collaboration with cities, transportation planners, advocates, & group and workforce group.”

Ford’s transfer provides a significant new participant to the recent phase that features Uber, Lyft and others working in dozens of cities worldwide, permitting smartphone customers to unlock and trip the scooters and depart them anyplace, with no dock required.

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The 2-wheeled scooters provide promise to cut back auto visitors, in line with backers, however have been criticized for creating muddle and potential street hazards. The luster of scooters has been dimmed by a handful of high-profile accidents, some deadly.

Spin mentioned in an announcement it hopes to deal with issues concerning the new type of transport.

“Within the cities the place we function, we plan to assist with enforcement round security and parking, in addition to present wealthy knowledge to tell city planning and bolster sustainability initiatives,” mentioned an announcement by the founders.

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“And we’ll proceed to rent domestically, whereas partnering with the very best high quality operations groups to make sure our scooters are well-maintained and integrating nicely amongst small companies, metropolis establishments, and transit infrastructure.”


Discover additional:
Uber joins scooter wars with Lime funding

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