Ford To Acquire Chariot; To Launch "Ford GoBike"

(RTTNews) - Ford Motor Company (F) announced that it has agreed to acquire Chariot, a San Francisco-based crowd-sourced shuttle service that plans to grow Ford's dynamic shuttle services globally, providing affordable and convenient transportation to at least five additional markets in 18 months.Terms of the deal were not disclosed.

In addition, Ford is teaming up with major global cities - starting with San Francisco - to help solve congestion issues and help people move more easily, today and in the future.

Ford also said it is collaborating with bike-sharing provider Motivate across San Francisco and the Bay Area to expand its transportation solutions in city centers.

The company also said it would launch its "Ford GoBike" bike-sharing program next year in partnership with the company Motivate, helping to add new stations and up to 7,000 bikes throughout the San Francisco Bay Area by the end of 2018.

"By expanding our business model to include new forms of transportation - from bikes to dynamic shuttles and more - we are introducing new customers to Ford and creating new revenue and profit opportunities for the future," said Jim Hackett, chairman of Ford Smart Mobility LLC.