DETROIT — Ford Motor Co. on Thursday said it is acquiring Electriphi, a fleet charging service provider, to help strengthen its FordPro commercial business.
The automaker did not disclose a purchase price for the deal, which it said should close this month.
Ted Cannis, CEO of FordPro, said the acquisition will allow Ford to offer commercial fleet operators an "end-to-end solution" from installing EV chargers, to managing energy usage and coordinating vehicle charging to avoid downtime.
"We went around and looked at many potential partners," Cannis said. "These guys came out as the right guys. They're specifically focused on fleet commercial customers. It requires a different set of charging solutions."
Ford believes it can increase revenue by more than $1 billion from fleet charging solutions by 2030, when it expects businesses to have more than 600,000 full-size trucks and vans that need charging at the workplace.
Electriphi is based in California and has about 30 employees. Cannis said the company's technology platform can integrate into what Ford already offers, such as telematics services.
Ford last month said it would spin its commercial business into a separate unit called FordPro as it looks to nearly double the revenue it generates from commercial sales to $45 billion by 2025. The company is also focusing its electrification efforts there, preparing to launch the E-Transit van later this year and the F-150 Lightning Pro next year.
Cannis said FordPro could partner with additional companies in the future but doesn't plan on additional acquisitions.
"It's an evolving world, but in terms of end-to-end solutions for E-Transit and F-150 Lightning, this is the final piece for us," he said. "This is it for us. We have everything we need to support our customers."
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