According to GlobalData’s deals database, Ford Motor Company has recently acquired Auto Motive Power (AMP), an energy management start-up based in Los Angeles.
Auto Motive Power Inc (Auto Motive Power) is specialized in battery management services.
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With the agreement, AMP will cease to exist as Ford takes over its technology and facilities in Santa Fe Springs, California. The financial details of the acquisition have not been disclosed.
AMP previously claimed to be the energy management provider for “most of the world’s leading electric car manufacturers,” although its clients were never publicly revealed. The start-up had rapidly expanded its reach as an independent company, providing energy management solutions for various applications, including autonomous shared transportation vehicles, drones, and hyperloop-style transportation systems.
Ford’s acquisition of AMP includes the incorporation of the majority of the start-up’s employees, including founder Anil Paryani. Paryani, who will report to Ford’s head of electric vehicle development, Alan Clarke, had previously collaborated with Clarke during their time at Tesla.
Deal Rationale
With the acquisition, Ford aims to accelerate the adoption of electric vehicles and enhance the charging experience for customers.
The move highlights Ford’s commitment to strengthen its own electric vehicle (EV) plans.
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