Download
HTML Embed
HTML EMBED
Click to Copy
Corner Office from Marketplace

Powerhouse producer Eva Price on the business of Broadway

Oct 18, 2019

Latest Episodes

Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace
Download
HTML Embed
HTML EMBED
Click to Copy
This Is Uncomfortable
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy

Ford jumps into scooter wars with purchase of Spin

Meghan McCarty Carino Nov 8, 2018
Share Now on:
HTML EMBED:
COPY
A user rides a Spin scooter in San Francisco.
Justin Sullivan/Getty Images

Ford is jumping into the e-scooter business, plunking down tens of millions of dollars — as much as a hundred million, according to one report — to buy the electric scooter company Spin. Daimler is trying scooters, too. The automakers will compete against rideshare giants Uber and Lyft and early innovators Bird and Lime for a share of what could become a multibillion-dollar scooter business. 

“It’s a space that’s grown really rapidly from almost nothing over the past year,” said mobility research analyst Sam Abuelsamid of Navigant Consulting.

He said scooters across the United States are now getting almost 250,000 rides a day and bringing in about a million dollars of revenue a day.

Uber and Lyft wanted a piece of that business because it’s a natural fit with ride-sharing. 

“They’re trying to hit all the different services that can be offered in order to maximize revenue potential from these businesses,” Abuelsamid said.

The attraction for automakers, he said, is the holy grail of transportation in the future: autonomous vehicles.

“Looking forward a few years from now as we start to get automated vehicles on the road, we’re going to need a mix of different types transportation options,” he said.

Gabe Klein, a transportation consultant who has worked with Spin, the scooter company Ford just purchased, said competitors in the space are playing a long game. 

“We’re in inning one right now,” he said.

Even with autonomous vehicles on the road, Klein thinks they won’t be the best option for every trip.

“Sixty percent of all trips in urban areas are less than 5 miles,” he said. “I think the scooter or the electric bike can fulfill the 1-3 mile trip.”

Klein said Ford might have an advantage in this space because it’s a trusted name that’s been around for more than a hundred years, unlike its disruptive competitors. 

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.

Check Your Balance ™️
Check Your Balance ™️
Personal finance from Marketplace. Where the economy, your personal life and money meet.

Thank you to all the donors who made our fall drive a success!

It’s Investors like you that keep Marketplace going strong!