Ford has recently set some ambitious plans to become bullish in the growing electric mobility market
Auto giant Ford has announced that it is acquiring Electriphi, an electric vehicle charging management and fleet monitoring software provider.
Ford has recently set some ambitious plans to become bullish in the growing electric mobility market, among which is setting up a new global business unit called Ford Pro that focuses on growing the automaker’s EV business and help the company meet its target of electrifying 40 per cent of its fleet by 2030. This acquisition seems to be a step towards the same goal.
“As commercial customers add electric vehicles to their fleets, they want depot charging options to make sure they’re powered up and ready to go to work every day,” said Ford Pro CEO Ted Cannis.
The company said in a statement that Electriphi’s team and services will be integrated into Ford Pro, adding, “With Electriphi’s existing advanced technology IP in the Ford Pro electric vehicles and services portfolio, we will enhance the experience for commercial customers and be a single-source solution for fleet-depot charging.”
Cannis added, “Bringing Electriphi on board is the last component to complete Ford Pro’s strategy to establish a commanding leadership position in the software space and build out our full-service stack to create an always-on relationship with the commercial customer.”
Ford Pro estimates that the depot charging industry will grow to over 600,000 full-size trucks and vans by 2030. This acquisition supports Pro’s target to capture over $1 billion of revenue from charging by 2030.
“Customers have been clear – electrification of their fleets is inevitable, with significant economic and sustainability benefits. They now need solutions that enable a seamless transition to electric vehicles,” said Electriphi CEO and co-founder Muffi Ghadiali. “Our synergies with Ford Pro will supercharge this transition. We’ll delight customers by helping them reap the benefits of electrification, so they can focus on what matters most – running their businesses effectively.”
Based in Silicon Valley, Electriphi’s team of more than 30 employees has developed and deployed a purpose-built electric vehicle fleet and charging management platform that simplifies fleet electrification, saves energy costs, and tracks key operational metrics like real-time status of vehicles, chargers and maintenance services.
The Electriphi acquisition is expected to close this month. Terms are not being disclosed. Morgan Stanley & Co. LLC is serving as Ford’s financial advisor in connection with this transaction.
