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How Ford plans to take on Uber and Lyft

Ford Motor Co. has been saying it plans to be a “mobility” company, not just a car manufacturer. We’re beginning to learn what exactly it’s talking about.

Ford (F) just announced it has purchased a company called Chariot, a San Francisco firm that’s sort of like an Uber of shuttle services. Ford is also rolling out a new bike-share service in San Francisco and starting a new division meant to roll out new forms of urban transportation. “The world is moving from a mindset of owning transportation to one of owning and sharing transportation,” Fields tells Yahoo Finance in the video above. “We are starting to see less car ownership in cities and more of a need to be able to use transportation on demand.”

Ford and other automakers worry about being displaced by ride-hail services such as Uber and Lyft, and other alternatives that might be cheaper and more convenient than traditional car ownership. More people are flowing into cities these days, reversing the boom...