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Ford's commuter shuttle service Chariot to cease operations by March-end

Ford Motor Co.'s commuter shuttle service Chariot Transit Inc. will cease operations in the U.S. and U.K. by the end of March, a little over two years after the U.S. carmaker acquired the business.

San Francisco-based Chariot announced the move in a Jan. 10 blog post without specifying a reason. It only said the decision was made after "significant consideration."

The company will offer its services for the last time in the U.K. on Jan. 25 and on Feb. 1 in the U.S.

Chariot operates in Austin, Texas; Chicago; Columbus, Ohio; Denver; Detroit; Lake Tahoe, Calif.; Los Angeles; New York; Seattle; the San Francisco Bay Area; and London. The company was established in 2014.

Ford's mobility transportation services provider Ford Smart Mobility LLC bought the company in September 2016 for $65 million to grow the automaker's shuttle services globally.

Chariot's announcement came the same day Ford said it will restructure its European operations to improve profitability.