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Ford Smart Mobility Buys Electric Scooter-sharing Company Spin

Ford Motor Co. (F) announced Thursday that Ford Smart Mobility, LLC has acquired Spin, a San Francisco-based dockless electric scooter-sharing company that provides customers an alternative for first- and last-mile transportation. The financial terms of the deal were not revealed.

Spin is a leading micro-mobility service provider, with operations in 13 cities and campuses across the U.S.

Ford said the acquisition of Spin is its latest strategic move in the mobility space, as the company builds a mobility portfolio to help customers get places more easily, more quickly and less expensively.

The company noted that scooters allow cities to offer an equitable last-mile solution to their residents thanks to their relative affordability. Combined with ease of use and electrified power, scooters can also help reduce urban traffic congestion, parking limitations and pollution.

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