A big car company is going small. Ford is buying electric scooter company Spin.
Ford and Spin won’t confirm the price tag, but reports put the purchase price at $100 million and an overall investment from Ford of $200 million.
The acquisition, announced last week, marks the first time a carmaker has seriously invested in the bike and scooter-sharing sector, which is typically the realm of tech companies.
Read this story now for free
To continue reading, sign up for our newsletter and get unlimited access to WABE.org
You can select your preferences for news and local content. We will never share your email address. Learn how your newsletter sign-up will support WABE and Public Media
