DEARBORN (dpa-AFX) - Ford agreed to acquire Electriphi, a California-based provider of charging management and fleet monitoring software for electric vehicles. Terms are not being disclosed. Electriphi's team and services will be integrated into Ford Pro, Ford said in a statement.
The acquisition is part of Ford's plan to invest more than $30 billion by 2025 to lead the electrification revolution for commercial and retail customers.
The Electriphi acquisition is expected to close this month.
The Electriphi acquisition comes as Ford prepares for the launch of all-electric versions of two of the high-volume commercial vehicles - the Transit van and F-150 pickup. Ford will start shipping E-Transit to customers later this year; F-150 Lightning Pro will be available in spring 2022.
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.
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.
The company anticipates its growing capabilities and appeal to generate $45 billion in revenue from hardware and adjacent and new services by 2025 - up from $27 billion in 2019. In North America, Ford's share of Class 1 through Class 7 full-size trucks and vans exceeds 40%. In Europe, Ford has been the leading commercial vehicle brand for six consecutive years.
Copyright RTT News/dpa-AFX
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