Industry/Official

Ford buys e-scooter sharing company Spin

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I’ve to admit. My interest in these tiny e-scooters has grown 2X times after watching the recent South Park episode. If you watch too, you would know which one it is. Ford’s interest however, is not new. The company had partnered with OjO Electric who make some really cool looking commuter scooters.

Now though, Ford Smart Mobility has acquired Spin, a San Francisco-based dockless electric scooter-sharing startup that provides first- and last-mile transportation. Ford didn’t share how much they spent on purchasing Spin, but according to reports, it is more than $40 million.

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Just like any shared mobility business, the Spin works via an app and apparently, costs $1 to rent and 15 cents per minute. Currently, the service is operational in 13 cities and campuses across the U.S.

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Spin wants to implement the micro-mobility solutions responsibly and sustainably as they expand their operations. The company do not want to launch without permission. Spin will share the usage data with cities and work with local officials and university campuses to design educational tools around parking and riding rules.

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