Ford buys Spin electric scooter company: Enhances its Smart Mobility Arm - The Financial Express

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.

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