Stock market quotes, forex, financial news, forex tools –

Ford has acquired a startup for the rental of electric scooters

 Breaking News
  • Session begins with the growth of oil prices Today, oil quotes began to grow at the start of the session. We recall that yesterday, the trading was extremely volatile in nature. So, at 8.04 Moscow time, July contracts...
  • Kevin Mayer to head TikTok TickTock is a growing social network; its main content is short videos. The service belongs to the Chinese company ByteDance Inc. It became known that Kevin Mayer had made a...
  • Uber struggles with the crisis by firing employees Uber Technologies Inc., a well-known American taxi and food delivery company, is experiencing extremely hard times. The letter to employees, sent out by the Uber CEO Dara Khosrowshahi, has fallen...
  • US stock market news Last week, the last trading day ended with a good growth for US stock indices. However, positive Friday failed to “pull out” the extremely bad week. The statistics and the...
  • Oil grows due to the balance expectations The energy market ended the week in a “green zone”. The American WTI crude oil showed two-month highs on Friday. The European Brent did not lag behind the overseas brand...
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