(Reuters) – Ford Motor Co’s <F.N> 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 http://bit.ly/2D3DKjL 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 towards 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.
(Reporting by Mary Ann Alapatt in Bengaluru; Editing by Shailesh Kuber)