Technology
Ford gets into the e-scooter craze with Spin
Ford is entering the electric scooter business.
The American carmaker announced Wednesday it has acquired the popular San Francisco-based scooter-share company Spin.
The scooter startup secured $8 million in funding last year, and it was one of the first scooter companies to bring the electric vehicles to San Francisco this year along with Bird and Lime.
Pitchbook reported in May that Spin was valued at $43.2 million and fending off several multi-million dollar offers. There’s no official word on how much Ford offered Spin in the acquisition, but Axios reports it was close to $100 million.
In a blog post, Ford X VP Sunny Madra — Ford X is the “new” transportation division of the company — said that the Spin acquisition fits into Ford’s goals to develop hybrids, electric cars, and self-driving cars by 2021.
The scooters will be added to Ford’s “mobility portfolio.” Ford acquired shared van service Chariot in 2016 and brought it into its X incubator as well.
Spin adds another commuting option for Ford “as we try to help our customers get places more easily, more quickly and less expensively,” Madra wrote.
Ford helped with e-scooter research at Purdue University with Jelly scooters, so this foray into the vehicles isn’t completely out of the blue.
Spin started as a stationless bike-share service and then added scooters to its line-up. It now focuses only on the e-scooters with a presence in 13 cities and college campuses (and now 14 with the Detroit launch). Ford already has docked bikes in the San Francisco Bay Area with Motivate’s Ford GoBikes shared service. A spokesperson said Ford doesn’t plan to connect that program with Spin.
!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1453039084979896’);
if (window._geo == ‘GB’) {
fbq(‘init’, ‘322220058389212’);
}
if (window.mashKit) {
mashKit.gdpr.trackerFactory(function() {
fbq(‘track’, “PageView”);
}).render();
}
-
Entertainment7 days ago
Earth’s mini moon could be a chunk of the big moon, scientists say
-
Entertainment7 days ago
The space station is leaking. Why it hasn’t imperiled the mission.
-
Entertainment6 days ago
‘Dune: Prophecy’ review: The Bene Gesserit shine in this sci-fi showstopper
-
Entertainment5 days ago
Black Friday 2024: The greatest early deals in Australia – live now
-
Entertainment4 days ago
How to watch ‘Smile 2’ at home: When is it streaming?
-
Entertainment3 days ago
‘Wicked’ review: Ariana Grande and Cynthia Erivo aspire to movie musical magic
-
Entertainment2 days ago
A24 is selling chocolate now. But what would their films actually taste like?
-
Entertainment3 days ago
New teen video-viewing guidelines: What you should know