Ford enters scooter wars with acquisition of startup Spin

Ford is entering the e-scooter market with the acquisition of California startup Spin (AFP)
Updated 08 November 2018

Ford enters scooter wars with acquisition of startup Spin

  • News reports said the value of the deal was between $80 million and $100 million
  • The two-wheeled scooters offer promise to reduce auto traffic, according to backers

NEW YORK: Ford Motor Co. agreed Thursday to acquire the electric scooter-sharing startup Spin, entering the fast-growing segment of last-mile urban mobility.
“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 in a statement.
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.
The two-wheeled scooters offer promise to reduce auto traffic, according to backers, but have been criticized for creating clutter and potential road hazards. The luster of scooters has been dimmed by a handful of high-profile accidents, some fatal.
Spin said in a statement it hopes to address concerns about the new kind of transport.
“In the cities where we operate, we plan to help with enforcement around safety and parking, as well as provide rich data to inform urban planning and bolster sustainability initiatives,” said a statement by the founders.
“And we’ll continue to hire locally, while partnering with the highest quality operations teams to ensure our scooters are well-maintained and integrating well among small businesses, city institutions, and transit infrastructure.”


US President Trump does not want to do business with China’s Huawei

Updated 19 August 2019

US President Trump does not want to do business with China’s Huawei

  • US Commerce Department expected to extend a reprieve that permits Huawei to buy supplies from US companies to service its customers

WASHINGTON: US President Donald Trump on Sunday said he did not want the United States to do business with China’s Huawei even as the administration weighs whether to extend a grace period for the company.
Reuters and other media outlets reported on Friday that the US Commerce Department is expected to extend a reprieve given to Huawei Technologies Co. Ltd. that permits the Chinese firm to buy supplies from US companies so that it can service existing customers.
The “temporary general license” will be extended for Huawei for 90 days, Reuters reported, citing two sources familiar with the situation.
On Sunday, Trump told reporters before boarding Air Force One in New Jersey that he did not want to do business with Huawei for national security reasons.
He said there were small parts of Huawei’s business that could be exempted from a broader ban, but that it would be “very complicated.” He did not say whether his administration would extend the “temporary general license.”
Speaking earlier on Sunday, National Economic Council director Larry Kudlow said the Commerce department would extend the Huawei licensing process for three months as a gesture of “good faith” amid broader trade negotiations with China.
“We’re giving a break to our own companies for three months,” Kudlow said on NBC’s “Meet the Press.”