Ford to buy EV charging management platform Electriphi
Reuters
Published Jun 17, 2021 11:08AM ET
(Reuters) - Ford Motor (NYSE:F) Co said on Thursday it would acquire Electriphi, which provides charging management and fleet monitoring software for electric vehicles, as the carmaker aims to electrify 40% of its automobiles by 2030.
California-based Electriphi's platform helps track the real-time status of vehicles, chargers and maintenance services, besides providing fleet electrification.
The Dearborn, Michigan-based company did not disclose the terms of the deal, which is expected to close this month and would allow Ford to offer depot charging solutions for customers making the switch from fossil fuels to electric batteries.
Electriphi's charging management platform will be a part of Ford Pro, the automaker's new stand-alone unit to focus exclusively on commercial and government customers.
"By adding Electriphi's existing advanced technology to the Ford Pro electric vehicles and services offering, we can enhance the commercial customer experience and become a single-source solution for fleet depot charging challenges," said chief executive of Ford Pro, Ted Cannis.
Morgan Stanley & Co LLC (NYSE:MS) is serving as a financial adviser to Ford.
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Written By: Reuters
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