Ford buys Spin electric scooter company: Enhances its Smart Mobility Arm

Ford says that the number of mobility options available to people has risen dramatically in recent years. In some situations, people use multiple forms of transportation during a single trip. The fast-paced, often experimental mobility sector requires businesses to keep up with agile and adaptable customers.

By: | Published: November 8, 2018 11:31 AM
Ford acquires Spin

In a bid to improve its smart mobility offerings and improve last mile connectivity, Ford Smart Mobility has acquired a San Francisco based electric scooter-sharing company named Spin. This latest acquisition of Spin by Ford says that the company has a clear focus across a various range of mobility spectrum. Ford says that scooters allow cities to offer better last mile solutions to its citizens and are really affordable, easy to use and powered by electricity which will result in lesser pollution.

Sunny Madra, Vice President, Ford X says that acquiring of Spin means continuing to develop more hybrids and battery-electric vehicles. The company is also working towards the development of self-driving vehicles that company plans to launch at a larger scale by 2021. "Another critical component of our mobility strategy is to develop a comprehensive set of software and services designed to better enable vehicle connectivity and utilization, as well as new mobility experiences and multimodal transportation solutions," he added.

Spin is based of San Francisco and is a dockless electric scooter sharing currently operating in over 13 cities and campuses across the US. The company plans to expand its operations in cities and universities to enhance micro-mobility solutions that are both safe and sustainable.

Investing in a Spin is one of the first times Ford is venturing into e-Scooter space. Using a Spin electric scooter costs $1 to rent and 15 cents per minute operating costs. This is far far more affordable than standard scooters. These e-scooters are also easy to use, reduce traffic and parking problems. This presents a significant opportunity as research shows nearly half of all trips made in the U.S. are 3 miles or less, according to “The Micro-Mobility Revolution,” a report by Populus.

Ford says that the number of mobility options available to people has risen dramatically in recent years. In some situations, people use multiple forms of transportation during a single trip. The fast-paced, often experimental mobility sector requires businesses to keep up with agile and adaptable customers.

Do you know What is Anti-Lock Braking System, Power Steering? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Get the latest cars price and upcoming bikes price in India exclusively at Financial Express. Stay tuned for new cars and bikes reviews, follow us on twitter, Facebook and subscribe us on YouTube for latest auto news.

Next Stories
1EICMA 2018: Hero XPulse 200T makes global debut: ‘Easy on budget’ tourer to go on sale in early 2019
2EICMA 2018: Ducati Panigale V4R unveiled: Meet the world’s most powerful track ready bike for the road!
3Mahindra Alturas G4 to be sold through premium dealership channel: Launch date, expected prices