September 13, 2016 Comments Off on Ford acquires Chariot
Automakers worldwide have been investing heavily in the ride-sharing market. Toyota is now in collaboration with Uber, Volkswagen has poured millions of dollars into Gett, and General Motors has invested in Lyft. This week, Ford Motor Company’s Smart Mobility has acquired Chariot for an undisclosed amount. Chariot is a San Francisco-based commuter ride-sharing startup that crowdsources its routes as well as its pickup and drop-off locations. Incidentally, the startup has been using Ford’s 15-seater Transit vans since it started operations. According to Ford, the move will make Chariot the foundation of its mobility and shuttle programs, which will be launched in other markets soon. The acquisition will allow Ford to integrate itself into the the booming and highly competitive ride-sharing market, while Chariot will be able to leverage Ford’s logistics and vehicle operations expertise and expand beyond San Francisco.
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