TIER Mobility enters North America
AXA-backed TIER Mobility announced the acquisition of Ford-owned shared electric bike and scooter operator, Spin, marking its entry into North America. With the purchase of Spin and its 50,000 vehicles, TIER expands its global footprint to over 520 cities and communities in 21 countries and its fleet to 300,000 vehicles.
Ford, which bought Spin for ~$100 million back in 2018, will remain a “strategic partner” moving forward.
“TIER’s acquisition of Spin and our entry into the North American market are huge milestones in our mission to Change Mobility for Good. We are excited to support citizens in cities and communities across North America to make the switch from cars to more sustainable urban mobility solutions – a switch that is urgently needed to decarbonize towns and cities across the world. We look forward to delivering this together with Spin who share our values of responsible partnership and sustainable vision.” – Lawrence Leuschner, CEO and co-founder of TIER Mobility.
“TIER and Spin share the same foundational view of how to deliver world-class micromobility services to cities and riders. Both companies believe in a partnership-first approach, operating with employees rather than contractors, and helping get people out of cars by offering sustainable, equitable, and safe micromobility services. We couldn’t be more excited to continue scaling the Spin movement in North America as part of the TIER family. Together we will be the number one choice of cities and riders globally.” – Ben Bear, CEO of Spin.
“We are proud Spin has become a trusted micromobility partner for cities across North America and the United Kingdom. We believe there are incredible synergies between Spin and TIER, and this new era will provide scale that’s desperately needed in the competitive micro-mobility sector. We are pleased to remain in the mix as a strategic investor in TIER and look forward to their continued growth.” – Franck Louis-Victor, VP, New Businesses at Ford Motor Company.