Ford is reportedly buying e-scooter startup Spin

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Ford might not sit idly by while other transportation companies expand beyond cars. Axios sources say the Blue Oval has agreed to buy e-scooter service Spin for roughly $40 million. It’s not certain what Ford would do with the company or what would happen to its staff. We’ve asked Ford if it can comment on the report and will let you know if it has more to share.

If accurate, it would be consistent with Ford’s strategy. The company has spent years talking about moving beyond car ownership, and has even toyed with e-bikes of its own. This could be a logical extension that gives Ford a significant footing in car-free transportation, even if it’s locked out of San Francisco for now. It’s also a hedge against transportation rivals entering the space. In addition to GM’s e-bikes, it has to worry about Uber and Lyft offering their own two-wheeled travel options. If Ford sits by the wayside, it risks ceding ground if bike and scooter continues to grow.

Source: engadget.com