Ford Motor Company has orchestrated a strategic acquisition of Auto Motive Power (AMP), a renowned startup specializing in cutting-edge charging and battery management systems. This AMP acquisition signals Ford’s renewed vigor to push forward its electric vehicle (EV) program and enhance technology accessibility for consumers.
California’s AMP praised for innovative battery management software and versatile power conversion systems utilized in EVs, drones, and hyperloop transportation, will now be integrated into Ford’s evolving EV infrastructure.
A Ford spokesperson revealed to Insider the purpose behind the acquisition: “Ford is focused on accelerating EV adoption and improving charging experiences for as many customers as we can. This move is about accelerating that effort – with excellence.”
The announcement follows Ford’s decision to delay significant EV investments and suspend several key projects, including a battery production facility in Kentucky, as company executives contend with a consumer uptake of EVs that has fallen short of expectations.
Bill Ford, the company’s executive chair, recently spotlighted the cost barrier for consumers in a New York Times interview, emphasizing the need for more affordable EV options to foster industry-wide adoption.
While Ford recalibrates its EV ambitions, others in the auto industry display similar caution. GM scaled back its projection to produce 100,000 EVs by late 2023, and Mercedes-Benz’s CFO, Harald Wilhelm, described the current EV market conditions as particularly challenging, suggesting they may be unsustainable for many car producers.
Contrasting with the broader industry’s cautious stance, Tesla maintains its growth trajectory and dominance as a leading EV manufacturer. The company has successfully integrated competitors into its US charging network, including Ford and GM.
Adding to Tesla’s charging partnership roster, Subaru announced its intention to adopt Tesla’s North American Charging Standard for its EV lineup from 2025.
Ford’s acquisition of AMP is a strategic enhancement to its EV technology suite. By advancing its EV charging solutions, Ford not only rejuvenates its electric vehicle aspirations but also solidifies its competitive edge in a rapidly transforming auto industry.
Ford’s embrace of AMP’s advanced technologies underscores its commitment to leading a future where electric vehicles are standard, striving to position EVs within easy reach of consumers globally.
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