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Autos

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

A Ford Transit Chariot van in London, Britain, January 31, 2018. REUTERS/Peter Summers

(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 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 toward becoming a mobility company. [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

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