Ford Buys Dockless Scooter Company Spin

Ford bought Spin which uses the Xioami M365 for its fleet.                  Sean Hollister  CNET

A university announcement last month describes it as "a campus-wide research project on best practices for using e-scooters", according to The Verge. Ford sees the initial contact with cities on scooters as a way to form relationships with cities that could eventually turn into self-driving auto agreements.

"Spin shares our values", Marcy Klevorn, Ford's executive vice president and head of its Mobility unit, told Business Insider.

Ford plans to roll out scooters in 100 cities over the next 18 months. Uber has witnessed a 10 percent drop in ride-hailing during peak hours in San Francisco, with e-scooter startups reportedly eating into its market share.

Ford is focused on delivering great products and services across the mobility spectrum, seeking to enhance the freedom of movement by building smart vehicles for a smart, connected world.

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"Lime's electric bikies have become hugely popular in cities, similar to Sydney, such as Seattle, whose community is looking for cleaner, cheaper and more accessible transportation", he said. Another critical component of our mobility strategy is to develop a comprehensive set of software and services created to better enable vehicle connectivity and utilization, as well as new mobility experiences and multimodal transportation solutions.

Axios says "the deal is worth close to $100 million, according to two sources, though another earlier put the price tag in the range of $40 million, which is around where Spin was valued after its Series A funding a year ago". Spin operates dockless electric scooters in 13 cities and campuses across the country. "We think autonomous vehicles are going to undergo the same sort of scrutiny that scooters are in that sense".

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.

Citing data from Populus Insights, Madra noted that nearly half of all trips in the United States are three miles or less. "Spin is an important step towards realizing our ambitious vision for the future of urban mobility".

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