Ford buys electric-scooter-sharing company Spin

Ford buys electric-scooter-sharing company Spin

NEW YORK (AP) — Ford Motor Co. has bought an electric-scooter-sharing company, expanding its presence in alternative modes of transportation.

The century-old automobile company announced its acquisition of Spin, a San Francisco-based dockless scooter-sharing company, on Wednesday.

Spin operates in 13 cities and campuses and allows riders to borrow a scooter for $1 and an additional 15 cents per minute.

Ford says the number of mobility options available to people has risen dramatically in recent years, and in some situations, people use multiple forms of transportation during a single trip.

Ride-sharing giants Uber and Lyft have also been investing in scooter-sharing companies.

Sections (2):News, Business
-