Ford to snap up Spin

India Business Journal - - GLOBAL WRAP-UP -

Ford Mo­tor has ac­quired Spin, a San Fran­cisco-based, scooter-shar­ing com­pany, for an undis­closed amount. For Ford, the deal adds scoot­ers to a sprawl­ing ar­ray of fu­ture trans­porta­tion ser­vices, which al­ready in­clude au­ton­o­mous ve­hi­cles and on­de­mand shut­tles. As for

Spin, it has found a deep­pock­eted ac­quirer af­ter hav­ing been locked out of sev­eral key mar­kets. "As more peo­ple con­sider scoot­ers to be a vi­able mo­bil­ity op­tion, now is the right time for Ford' to work closely with Spin," Ford has said in a state­ment, adding: "Spin is an im­por­tant step to­wards real­is­ing our am­bi­tious vi­sion for the fu­ture of ur­ban mo­bil­ity."

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