Cleantech & EV'sNews

Ford buys EV energy company AMP to improve charging and battery management

In its latest effort to improve the EV ownership experience, Ford has acquired Auto Motive Power (AMP). Ford will use the energy solutions providers’ tech to improve EV charging and battery management.

Founded in 2017, LA-based AMP provides hardware and software for several solutions, including EV charging, cloud solutions, and battery and energy management.

AMP’s CEO, Anil Paryani, announced the news on Wednesday on LinkedIn. The post read, “Our talented team will start a new journey and integrate our energy management technologies into Ford’s winning EV portfolio.”

Paryani added that “lowering the cost of EV electronics and improving battery utilization has always been” the company’s mission.

AMP, which once claimed to power “most of the world’s top electric OEMS,” will no longer exist following the deal.

According to TechCrunch, Ford will absorb the company’s tech, employees, and Sante Fe Springs, CA, facility. Ford spokesperson Emma Bergg confirmed the news.

Ford buys AMP to bring EV tech in-house

Ford has not provided details on the deal. However, Pitchbook data shows AMP has raised $26.5 million since launching.

Ford’s Alan Clarke with AMP CEO Anil Paryani

The American automaker will absorb most AMP employees, according to Bergg. Paryani will assist Ford’s Model e unit under EV development boss Alan Clarke. The two have history – both worked on Tesla’s engineering team for around five years.

Clarke said on LinkedIn that integrating AMP’s tech into Ford’s EV products “will allow for optimizing both cost and performance while improving experiences for our customers.”

2023 Ford Mustang Mach-E (Source: Ford)

The news comes as Ford recently slowed its transition to EVs. After selling nearly 21,000 EVs in the third quarter, Ford announced it would slow Mach-E production and push back around $12 billion in investments.

The American automaker previously said it would delay its goal of building 600,000 EVs this year until 2024.

Author: Peter Johnson
Source: Electrek

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