Ford is putting the pedal to the metal in the electric vehicle (EV) race, and its latest pit stop involves a secretive energy startup named Auto Motive Power, or simply “AMP” for those in the know.
While AMP once claimed to be the force behind “most of the world’s top electric OEMs,” it kept its customer list under wraps. However, Ford has decided to bring AMP into the spotlight by snapping it up entirely.
As part of this high-voltage deal, AMP will be subsumed by Ford, effectively turning off its independent existence. Ford isn’t disclosing the price tag for this electric acquisition, but AMP managed to raise an impressive $26.5 million during its journey from startup to Ford’s shiny new acquisition.
Ford won’t just be getting AMP’s tech and energy expertise; it’s also inheriting their talented team. This includes AMP founder Anil Paryani, who will report to Ford’s EV development head, Alan Clarke. What’s more, Clarke and Paryani have some history, having worked together on Tesla’s engineering team for about five years. So, it looks like Ford has charged up its EV division with a dash of Tesla expertise.
AMP’s COO, Lionel Selwood Jr., might not be joining the Ford team, as per his LinkedIn profile. Still, it seems Ford is supercharged about this acquisition and is revved up to accelerate the adoption of electric vehicles. We can’t wait to see what they’ll bring to the EV game next!
