According to recent reports, the scooter making company Spin has rolled out its scooters in St Louis market. On Monday morning it’s been observed that bright orange bikes made by Spin were roaming around on St. Louis streets. Currently, there are many scooter companies like Lime, Bird which are competing with each other. Spin is an electric scooter making company which was recently bought by automobile company giant Ford for a whopping amount of $100 million. The business model of Spin is unique because a customer needs to order the scooty through which they can choose according to GPS equipped locations.
Once they reach their destination, a customer needs to park the scooter and then leave it there until the next customer picks it up. The business might be a little bit difficult to implement, but the company is still trying to operate at its best capacity. Ford has purchased it because they wanted a diversification for their investment since the automobile giant is also going to produce electric cars and scooters. The city has permitted operating 2500 scooters still no company has achieved the target of producing and launching at that capacity.
Bird and Lime have launched 500-600 scooters in St. Louis city. Spine is charging $1 for unlocking the bike and 15 cents for every minute’s ride. The cost of Spin is much lower as compared to its rival which is the reason why some analysts are supporting the company’s business model. Even if the electric scooter industry is new, it has already filled up with lots of new companies, and that’s the reason big companies like Ford, Uber are trying to enter into this sector. However, for Spin, it won’t be that much easy since they will have to compete with Bird and Lime to get to the top of the market.