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Ford has acquired a startup for the rental of electric scooters

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Ford has acquired a startup for the rental of electric scooters
November 07
13:00 2018

An auto giant Ford has bought a service of electric scooter rental to compete in this field with the companies Bird and Lime. Ford will be the first automaker to decide to compete in such a market.

Sunny Madra, the head of Ford X, notes that the rental business of scooters is developing extremely dynamically around the world. The details of the transaction are not disclosed. The Spin project has been operating for a couple of years and managed to gain a foothold in seven markets. According to some reports, Ford paid $ 40 million for the project.

Ford said that the service would be open in hundreds of cities by 2020. However, this will require quite a serious investment.

Experts believe that in order to compete with the Bird and Lime companies, the concern will have to invest more than one billion in the development of the startup just bought. This money is needed for the acquisition, maintenance and recharging of vehicles.

Mr. Madra sees the advantage of Ford primarily in the administrative resource, namely, in the presence of ties with the governments of various cities. This will make it possible to easily issue the necessary permissions for the development of the project.


            The material was prepared with the participation of Anjela Chromova,
a leading analyst of the brokerage company CT Trade

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1 Comment

  1. Lashaunda Janick
    Lashaunda Janick December 14, 08:18

    Posts are great! Thanks for the author

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