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  1. Economy and Politics
  2. Auto Industry

Ford Wants to Be the Next Uber

By:
Kara Brandeisky
1 min read
Ford Motor Co. signage is displayed outside the the company's Kentucky Truck Plant in Louisville, Kentucky, U.S., on Tuesday, Dec. 1, 2015. - Bloomberg via Getty Images
Ford Motor Co. signage is displayed outside the the company's Kentucky Truck Plant in Louisville, Kentucky, U.S., on Tuesday, Dec. 1, 2015. Bloomberg via Getty Images

Ford doesn't just want to make the cars — it wants to drive you around, too.

Ford has expressed an interest to developing a ridesharing service that could serve as a competitor to Uber and Lyft, Reuters reports.

"Our vision is to be a mobility service provider, beyond building a vehicle that would be in somebody else's fleet," Ken Washington, Ford's vice president of research, said. "We see this as a business we want to be in."

If so, Ford has a lot of catching up to do. Uber's latest valuation is $62.5 billion, according to Bloomberg. Meanwhile, Uber competitor Lyft's latest valuation is $4 billion, the New York Times says.

But maybe that's why Ford is interested — its market cap is only $55.4 billion. For now at least, the company that makes the cars might be worth less than the company that tells the cars where to drive.

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