Sunday , April 5 2020

Ford’s Spin expands outside US

Bloomberg

Spin, the scooter-sharing service owned by Ford Motor Co, is expanding to new markets outside of the US.
The company will launch its first international fleet of electric scooters in Cologne, Germany, as soon as the spring, according to a statement. It will start with several hundred scooters and plans to increase the number quickly, though pricing hasn’t been decided. Spin also will apply in Paris for a scooter-sharing permit next month.
“Since we started Spin it’s been about deliberate growth, understanding the markets, understanding the path to profitability before we expand.” Spin CEO Derrick Ko said. “Germany has both the infrastructure and regulations to support that.”
Ford, which acquired Spin in 2018 for an untold sum, has helped the scooter company engage with city governments and understand the environment in markets it wants to enter, Spin’s President Euwyn Poon said.
Germany legalised the use of scooters on roads and bicycle paths in May, spurring a race among European and US startups to roll out products in Europe’s biggest economy.
Other companies including Alphabet-backed Lime are eying growth in Europe, primarily because policy makers there are starting to restrict car use, according to David Spielfogel, Lime’s chief policy officer.
Spin is also exploring private partnerships in the UK and plans to participate in pilot programmes in cities across the country.
While Spin has grown since Ford’s acquisition, it has yet to achieve profitability, according to Poon, who’s trying to get there this year.

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