Ford, the American automaker, has announced its acquisition of Auto Motive Power (AMP), an energy management startup focused on electric vehicle (EV) power solutions. The acquisition includes AMP’s technology, talent, and facility in Santa Fe Springs, California, as Ford aims to strengthen its own EV plans. Although the financial terms of the deal were not disclosed, AMP had previously raised $26.5 million since its establishment in 2017.
Key Takeaway
Ford’s acquisition of AMP, an EV power startup, will enable the automaker to enhance its EV plans and charging technology. By incorporating AMP’s expertise and talent, Ford aims to accelerate EV adoption and improve the overall charging experience for its customers.
AMP: A Discreet Powerhouse
AMP, known for its secretive nature, claimed to power a significant number of the world’s top EV original equipment manufacturers (OEMs). However, the company never publicly disclosed its customers. The startup’s offerings extended beyond EVs to encompass power management solutions for autonomous rideshare vehicles, drones, and hyperloop-style transport. Notably, AMP’s hardware head, Jiaqi Liang, previously worked at Virgin Hyperloop, highlighting the company’s diverse capabilities.
A Boost to Ford’s EV Plans
Ford will incorporate the majority of AMP’s employees into its team, including founder Anil Paryani, who will report to Alan Clarke, Ford’s EV development boss, within the Model e unit. Clarke and Paryani had previously collaborated at Tesla for approximately five years. Ford’s focus, according to spokesperson Emma Bergg, is to expedite EV adoption and enhance the charging experience, and the acquisition of AMP will contribute significantly to these efforts.
The lead investors in AMP included Marco Marinucci, Alex Moore, and Josh Greha, representing Hella Ventures, 8VC, and Helios Climate Ventures, respectively.
