Ford Acquires EV Business, Electriphi
Ford Motor Co. on Thursday said it is acquiring Electriphi, a fleet charging service provider, to help strengthen its FordPro commercial business. 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. 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.
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. “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,” Cannis said. “This is it for us. We have everything we need to support our customers.”