Ford Motor Co. is considering divesting its electric scooter-sharing service Spin, possibly through a SPAC merger, Bloomberg reports.
The company is working with an adviser to examine strategic options including a sale or spinoff of the unit, sources reportedly told Bloomberg. It could also look to merge the unit with a SPAC, the people added.
Ford acquired Spin in 2018. The company operates dockless electric scooters on campuses and cities in North America and Europe, according to its website.
No final decision has been made and Ford could opt to keep the unit, the sources said. Read more.
