Ford Acquires Scooter-Sharing Company

Here’s something you might have missed. As Ford Motor Company looks to transition its vehicle lineup primarily to trucks and SUVs while also developing electric and autonomous vehicles, the Blue Oval did something that might not make sense on the surface — it purchased an electric scooter-sharing company called Spin.

Why would one of the world’s premier automakers acquire a scooter company? The move fits with Ford’s plans to expand their presence in the mobility business “to help get places more easily” as they work to find solutions to provide more efficient transportation for customers.

In a Medium post written by Sunny Madra, the vice president of Ford X, Madra explains that people in cities and congested, urban areas are opting for alternative transportation solutions ranging from ride-sharing to bicycles and so much more. Madra says the acquisition of Spin could help provide a “seamless transportation experience” for customers.

“Spin adds an exciting new offering to Ford’s mobility portfolio as we try to help our customers get places more easily, more quickly and less expensively,” Madra wrote. “Using a Spin electric scooter costs $1 to rent and 15 cents per minute. Affordability, combined with ease of use and electrified power, also means scooters can help tackle challenges such as traffic congestion, parking availability and pollution.”

Ford believes the move will help enhance urban mobility, particularly the the first and last mile of trips. Users can access a scooter for $1, which will unlock it and allow them to travel where they need to. Currently, Spin is located in nine cities and five college campuses across the United States.

Spin says their acquisition by Ford will allow them to “expand aggressively” while still allowing them to operate as a standalone business within ford Smart Mobility.

“Over the next few years, we plan to scale quickly across hundreds of U.S. markets, including large metropolises, mid-sized cities and college campuses,” they said in a statement. “The same passion that inspired us to celebrate a new protected bike lane the night we announced our first funding round still drives us forward as we move forward with Ford today. We care deeply about improving city and campus transportation and are excited to be building the micro-mobility infrastructure of the future.”

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