Ford Acquires Scooter-Sharing Service Spin

Biking from home to a metro station to catch the train for work is a way of life for countless city dwellers.

For those who don’t own a vehicle, it’s not uncommon use multiple forms of transportation during a single journey. And recent years have seen an explosion in ridesharing and bike-sharing businesses.

Ford Motor Co. knows the future of transportation isn’t simply automobiles. That’s why the Dearborn, Michigan-based auto manufacturer has acquired Spin, an electric scooter-sharing company started in San Francisco.

Spin already operates in a combination of 13 cities, including Long Beach, Calif., Coral Gables, Fla., Washington, D.C., Charlotte and Denver. Spin’s scooter-sharing services are also available on five campuses and just recently added service in Detroit.

“The fast-paced, often experimental mobility sector requires businesses to keep up with agile and adaptable customers,” said Sunny Madra, vice president of Ford X. “Spin adds an exciting new offering to Ford’s mobility portfolio as we try to help our customers get places more easily, more quickly and less expensively.”

Ford GoBike, a bicycle-sharing service already operating in the San Francisco Bay Area and Silicon Valley, will be supplemented by the acquisition.

Spin will be absorbed by Ford Smart Mobility, LLC, an arm of the company devoted to predictive trends in the marketplace and innovative solutions.

“As more people consider scooters to be a viable mobility option, now is the right time for Ford to work closely with Spin’s highly experienced and dedicated team to help expand their service to more cities,” Madra said.

Axios reports the deal cost roughly $100 million.