Stock market quotes, forex, financial news, forex tools – money-investing.com

Ford has acquired a startup for the rental of electric scooters

 Breaking News
  • Global demand for oil grows The International Energy Agency (IEA) has published a very interesting study. So, in the next five years, global oil demand will grow about 1 million b/d every year. This means...
  • Tesla to build its fourth factory Elon Musk said that the company was planning to build the first plant in Europe. The German capital has been chosen for this purpose. It will be the fourth plant...
  • Facebook Pay is new payment system of famous social network The well-known company Facebook has announced the launch of its own electronic payment system Facebook Pay. Through the company’s official blog, we have found out that the service will operate...
  • Amazon to open a new supermarket chain in the States Amazon, the largest US online retailer, already owns several supermarket chains. The first of them called Whole Foods was purchased in 2017 and cost $ 13.7 billion. The chain specializes...
  • Energy Market News Today, at 8 a.m. Moscow time, Brent crude futures rose $ 0.14 (or 0.23%) – to $ 62.32 per barrel. We recall that yesterday the asset price lost 0.53% ($...
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

Related Articles

1 Comment

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

    Posts are great! Thanks for the author

    Reply to this comment

Write a Comment