Ford Acquires Energy Startup AMP to Revolutionize Charging Technology
Ford, the automotive giant, has made a groundbreaking move by acquiring the secretive energy startup, Auto Motive Power, commonly known as AMP. This strategic purchase aims to enhance Ford’s charging, battery management, and power conversion technology for electric vehicles (EVs). AMP had previously boasted about powering numerous top electric original equipment manufacturers (OEMs) worldwide, although their specific clients remained undisclosed.
Following this deal, AMP, based in Los Angeles, will no longer exist as an independent entity. Instead, Ford will take over AMP’s cutting-edge technology, talented workforce, and facility located in Santa Fe Springs, California. This acquisition will significantly advance Ford’s EV plans, according to statements from Ford spokesperson Emma Bergg.
While Ford has not disclosed the exact amount paid for AMP, it is worth noting that AMP raised an impressive $26.5 million since its establishment in 2017. The startup also welcomed around 149 employees to its ranks, as per PitchBook data.
AMP has demonstrated its expertise in power management across various applications, ranging from autonomous ride-sharing vehicles to drones and hyperloop-style transport systems. These achievements have been documented on AMP’s now-deleted pages, which are still accessible through the Internet Archive. Jiaqi Liang, AMP’s hardware boss, even previously served at Virgin Hyperloop.
In addition to acquiring AMP’s technology, Ford will also bring onboard the majority of AMP’s workforce, including founder Anil Paryani. As part of Ford’s Model e unit, Paryani will report to Ford’s EV development chief, Alan Clarke. Both Clarke and Paryani previously collaborated during their time on Tesla’s engineering team.
While the majority of AMP’s employees will transition to Ford, it appears that the COO, Lionel Selwood Jr., will not join the automotive giant, based on his LinkedIn profile.
Paryani expressed his excitement about the acquisition, emphasizing the AMP team’s commitment to accelerating EV adoption with Ford’s manufacturing capabilities and expertise. Ford echoed this sentiment, stating that their focus is on expediting EV adoption and improving charging experiences, positioning this deal as a significant step toward achieving these goals.
Some notable investors in AMP include Marco Marinucci from Hella Ventures, Alex Moore at 8VC, and Josh Grehan of Helios Climate Ventures.
In summary, Ford’s acquisition of AMP signifies the company’s dedication to revolutionizing charging technology for EVs. With AMP’s cutting-edge solutions and Ford’s industry expertise, this partnership has the potential to drive significant advancements in the field of electric mobility.
