TECH - Ford Acquires EV Power Startup To Enhance Its Charging Tech | Benzinga
American multinational automaker Ford Motor Company (NYSE:F) is set to acquire Auto Motive Power (AMP), an energy startup, to enhance its electric vehicle (EV) charging capabilities.
According to a TechCrunch report, the deal will result in the dissolution of AMP, with Ford integrating its technology, talent, and facilities into its own EV operations. The undisclosed deal was confirmed by Ford spokesperson Emma Bergg.
AMP, once claiming to power most of the world’s top electric OEMs, raised $26.5 million since its 2017 launch and employed around 149 staff members according to PitchBook data. The company’s operations extended to power management for autonomous rideshare vehicles, drones, and hyperloop-style transport.
Ford plans to onboard the ...