Mar 30, 2016 08:57 AM EDT

Ford Go Head To Head With Uber And Lyft In The Ride-Sharing Business?

Ford Reports Drop In Quarterly Earnings
COLMA, CA - APRIL 27: The Ford logo is seen on a brand new Ford truck at Serramonte Ford on April 27, 2012 in Colma, California. Ford Motor Co. reported a first quarter loss with earnings of $1.4 billion, or 35 cents per share compared to $2.5 billion, or 61 cents one year ago.
(Photo : Justin Sullivan/Getty Images)

It appears that Uber and Lyft would have to face another contender in the ride sharing business. It has been speculated that Ford Corporation would venture into the same business trend that Uber and Lyft are currently dominating.

It is apparent that as of the moment transportation services have become the latest frontier in investing and pooling resources and it incorporates taxis, shuttles and ride sharing. Owing to that, Ford has seen the potential growth that ride sharing can provide and thus the company aims on expanding its horizons as well.

According to a former report from Yahoo Finance, "Ford's crosstown rival, General Motors (GM), has purchased the technology of failed ride-sharing service Sidecar, and invested $500 million in Lyft."

Due to the rising competition, it stands out that Ford is dedicated to not lag behind. To prove the latter, Ford Motor, CEO Mark Fields said, "We literally get none of that. We look at that as a huge opportunity." Fields further said, "That's why Ford has set up a new mobility division to figure out ways the company can grow beyond the manufacture and sale of automobiles."

On a different note, Ford has been criticized by Donald Trump, owing to the company's decision to expand its operations in Mexico, as previously mentioned by Jobs & Hire.

It stands to reason that Ford is willing to go the extra mile to ensure the company's big revenues and generate profit. If it does contend with Uber and Lyft, it remains uncertain on what outcomes it would result into.

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