Dearborn - Ford has entered the fast-growing 'last-mile urban mobility' segment with the purchase of electric scooter-sharing start-up Spin.
"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 expensively," Ford said on Thursday.
The purchase price was not disclosed but news reports said the value of the deal was between $80 million and $100 million.
The California-based startup said on Twitter: "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 workforce group."
Ford's move adds a major new player to the hot segment that includes Uber, Lyft and others operating in dozens of cities worldwide, allowing smartphone users to unlock and ride the scooters and leave them anywhere, with no dock required.