Ford Motor Co. F, -1.69% is rising a push to get folks to make use of other modes of transportation beside their non-public automobiles with a shuttle service. The automaker announced at a information convention in S.F. on Friday that subsidiary Ford Mobility LLC is buying Chariot, a startup that provides private shuttle service, and will increase the Bay house providing to 5 extra markets inside 18 months. In a news release, Ford said Chariot “will function the cornerstone for (Ford’s) new world shuttle service industry.” Ford also stated it would make a contribution to a spread of motorcycle-sharing in cities across the Bay space, much like Citibank’s sponsorship of New York city’s bike-sharing program, with Ford GoBike. Ford didn’t expose the associated fee it paid for Chariot nor how a lot it used to be contributing towards bike-sharing. Ford shares had been down about 1.5% in Friday trading, mirroring declines for the overall market – the S&P 500 SPX, -1.seventy four% was additionally down 1.5% Friday.
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