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,” Bear said,…
