Ford Motor Co (F.N) has announced on Thursday that it would acquire Electriphi to boost its Electric vehicle commercial business as it aims to electrify 40 percent of its automobile by 2030.
Ford is confident that the software developed by the charging management and fleet monitoring software startup Electriphi will help it capture more than $1 billion in revenue just from charging by 2030.
Electriphi, along with its 30-person team, will be folded into the newly minted Ford Pro business unit, which is focused on providing services to commercial customers of its electric Transit van and F-150 Lightning Pro pickup truck. Ford will start shipping E-Transit to customers later this year. The F-150 Lightning Pro, a commercial variant of the all-electric Lightning pickup truck, is expected to come to market in spring 2022.
Ford Pro CEO Ted Cannis said that as commercial customers add electric vehicles to their fleets, they want to adopt a charging option to ensure they are powered up and ready to go to work every day and 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.
Electriphi launched in 2018 has focused on segments deploying commercial electric vehicles in the U.S. and internationally, a list that includes school buses and transit buses when it became obvious that upcoming state and federal mandates would drive heavy-duty vehicles and mid-sized commercial fleets towards electrification.
Ford first approached Electriphi in early 2021. The startup had raised just $4.2 million at a valuation of about $11 million prior to the deal with the automaker.
While Ford’s focus is building out the software for its E-Transit and Lightning Pro, it is possible that it will also continue to serve Electriphi’s customer base.
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