Ford Acquire Scooter Hire Startup, Spin

As covered in a recent post by the Anything for Hire team, scooter hire has made its way to London, with Bird last month announcing that it was renting its vehicles out in London’s Queen Elizabeth Olympic Park.

While only just making their first moves in the city, it appears they already have a competitor. Just this week, Ford announced that they had bought scooter rental startup, Spin; a business that will go head to head with Bird, Lime and other rental organisations. While claiming to be reducing congestion on the roads, many have criticised brands such a Lime and Spin for causing more hazards on our roads. However, both Spin and Ford are confident that their vehicles and rental model ticks all the boxes.

Acquiring the Californian-based business, Ford has high hopes for this venture. Releasing a statement on the subject, Ford said:

“The acquisition of Spin is the latest strategic move by Ford in the mobility space, as the company builds a mobility portfolio to help customers get places more easily, more quickly and less expensive”.

While the sum paid for the startup is yet to be disclosed, some publications have priced the purchase at £77 Million.

Equally as thrilled to see this deal take shape was Spin. Announcing details of the acquisition on Twitter, they wrote:

“We’re excited to announce that Spin is joining the @Ford team! Over the next year, we plan to launch in 100+ markets in close collaboration with cities, transportation planners, advocates, & community and in close collaboration with cities, transportation planners, advocates, & community and workforce group.”

As a hugely exciting part of the industry, the appetite for scooter hire is increasing dramatically in areas such as California.

But, will the success story be repeated here in the UK? Let us know what you think. Is this a good investment for Ford?