What is happening: Ford have purchased the electric scooter start up Spin for a value of $40 million to $100 million.
Spin: Spin’s Series A has a big presence in San Francisco, Washington DC, Miami, Dallas, Seattle and LA, as well as other major US cities. Spin introduced 500 bikes to San Francisco in 2017, with over 5,000 rides booked in the first week. They then changed up their technique to focus on scooters at $1 to unlock and 15 cents per minute of use.
Ninebot: Spin purchase 30,000 scooters a month from Chinese manufacturer Ninebot.
Ford: Ford recently also bought e-bike startup Go Bike, as well as running a Jelly e-scooter service across the Purdue Uni campus. It looks as if Ford are joining Uber in investing heavily in the e-bike and e-scooter sector.