Ford to Test Car Sharing, Demos Prototype E-Bike

Ford Motor Co. is moving forward with its "smart mobility" initiative with two new programs: a third-generation electric bicycle and car-sharing trials in six U.S. cities and London. The projects emerged from more than 25 experiments Ford began in January to better understand evolving consumer attitudes and behavior, and to help mitigate increasing global traffic congestion.

Ford's new MoDe Flex reconfigurable electric bike can be folded and recharged while stored in any Ford vehicle. Its electric motor and battery are housed in the center frame, while the front and rear assemblies and wheels can be adapted for road, mountain or city riding.

An accompanying smartwatch app has a "no-sweat" setting that increases electric pedal assist based on heart rate. The app also can alert riders to upcoming potholes and other hazards by vibrating the bike's handlebars. And it can help users plan multi-mode trips that could involve their personal cars, public transportation and the e-bike.

Ford's car-sharing pilot, dubbed Peer-2-Peer, enables select customers to rent their vehicles to pre-screened drivers for short-term use. Some 26,000 owners who financed their vehicles through Ford Motor Credit Co. have been invited to participate in the program over the next few months.

Owners, who can set their own rental prices (starting at $5 per hour) and mileage limits, will pocket 60% of the fees. The rest will go to Ford's partners in the project: Getaround Inc. in the U.S. and easyCar Club in London. The two companies will pre-screen drivers and be responsible for car insurance, roadside assistance and customer support.

Ford notes that younger car owners view car-sharing as a way to offset monthly car payments. A recent survey conducted by Penn Schoen Berland shows that one-third of so-called Millennials in the U.S. are interested in supplementing their income by renting out various belongings. More than half are open to car-sharing, which ranked second to books as the item they would be most willing to share.