Ford acquires electric scooter sharing service

Ford has acquired Spin, an dock-free electric scooter sharing service operating in 14 locations across the United States. Neither company has commented on the cost of the purchase, but sources have told Axios it is around US$100 million ($141 million). In an interview with Automotive News Sunny Madra, head of Ford X, the company's mobility incubation arm, stated Spin, under Ford's wing, will launch in around 100 cities over the next 18 months.