Ford’s e-scooter company is pulling out of any city that doesn’t limit competition
The decision will impact roughly" a quarter of the company's staff. | Image: Spin Spin, the e-scooter company owned by Ford, announced a major restructuring Friday where it will pull out of nearly all open permit markets." More specifically, Spin is beginning to exit a few" US markets, Germany, and Portugal, and it is projecting" to close down in Spain as soon as February.
Moving forward, Spin says it will focus on limited vendor markets," where only a designated number of scooter companies are allowed to compete in a location, in the US, Canada, and the UK. Spin sees double the revenue per vehicle" in limited vendor markets, according to Ben Bear, Spin's CEO.
This decision to restructure impacts roughly a quarter of our staff"
This decision to restructure impacts roughly a quarter of our staff," Bear said,...