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Ford's ride-share service Chariot to shut operations by March-end

Stock MarketsJan 10, 2019 06:05PM ET
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© Reuters. A Ford Transit Chariot van in London

(Reuters) - Ford Motor Co's (N:F) ride-share service Chariot is ceasing its operations in the United States and the UK by the end of March, Chariot said in a blog post on Thursday.

The move is a setback for Ford, which bought the San Francisco-based Chariot in 2016 to expand beyond auto manufacturing and take another step toward becoming a mobility company. [https://reut.rs/2D3vv77]

Earlier on Thursday, Ford said it will cut thousands of jobs, look at plant closures and discontinue loss-making vehicle lines as part of a turnaround effort aimed at achieving a 6 percent operating margin in Europe.

Ford's ride-share service Chariot to shut operations by March-end
 

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