- Ford Motor Co (NYSE:F) has acquired Electriphi, a charging management and fleet monitoring software provider for electric vehicles (EVs).
- The financial terms of the transaction remain undisclosed.
- The acquisition was part of Ford’s $30 billion electrification investment by 2025.
- Ford hopes to generate up to $1 billion in revenue from charging by 2030. Ford Pro estimates the depot-charging industry to grow to over 600,000 full-size trucks and vans by 2030.
- Electriphi will be part of Ford Pro’s, the automaker’s new global business committed to commercial customer productivity and developing the most advanced charging and energy management experiences.
- Ford prepares to launch all-electric versions of two of the world’s most popular, 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.
- Ford estimates to generate $45 billion in revenue from hardware and adjacent and new services by 2025 from $27 billion in 2019.
- Ford held $21.8 billion in cash and equivalents as of Mar. 31, 2021.
- Price action: F shares are down 2% at $14.72 on the last check Thursday.
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