Ford has two electric vehicles in the works – the E-Transit minivan and the F-150 Lighting Pro – for commercial customers. Today, the automaker is completing its future commercial electric vehicle activity with the acquisition of battery management and fleet monitoring software startup Electriphi.
Terms of the acquisition were not disclosed. Ford is betting that the software developed by the three-year-old San Francisco startup will help it generate more than $ 1 billion in revenue just by charging by 2030. Ford Pro has financial ambitions going up to -beyond the load. The business unit said it expects to generate $ 45 billion in revenue from adjacent and new equipment and services by 2025, up from $ 27 billion in 2019.
Electriphi, along with its 30-strong team, will be integrated into the new Ford Pro business unit, which focuses on providing services to commercial customers of its Transit electric van and F-150 Lightning Pro pickup truck. Ford will begin shipping E-Transit to customers later this year. The F-150 Lightning Pro, a commercial variant of the all-electric Lightning pickup, is expected to hit the market in spring 2022.
“As commercial customers add electric vehicles to their fleet, they want on-deposit charging options to make sure they’re powered up and ready to go to work every day,” said Ford Pro CEO Ted Cannis. “With Electriphi’s existing advanced technology IP in the Ford Pro electric vehicles and services portfolio, we will enhance the commercial customer experience and be a single source solution for fleet depot charging. “
Electriphi was launched in 2018 when it became clear that upcoming state and federal mandates would drive heavy vehicles and midsize commercial fleets towards electrification, co-founder and CEO Muffi Ghadiali told TechCrunch in a recent. interview. The company has focused on segments deploying commercial electric vehicles in the United States and around the world, a list that includes school buses and transit buses.
“If you just think about what’s going to happen in the next 10 years, it’s a massive transformation in mobility for energy and software,” Ghadiali said. “The stakes are incredibly high and time is running out. He noted that fleet operators are worried about upcoming mandates that will require a shift to zero-emission vehicles by the end of the decade. “To renew your entire fleet in 10 years, you have to start now; they say, “I have to make sure my fleet operations don’t skip a heartbeat as this transition occurs.”
Ford first approached Electriphi in early 2021. The startup had raised just $ 4.2 million for a valuation of around $ 11 million before the deal with the automaker.
While Ford is focused on building the software for its E-Transit and Lightning Pro, it is possible that it will continue to serve Electriphi customers as well.
“It is interesting that the underlying Ford platform is used in many different types of vehicles as well as in school buses,” Ghadiali said. “So it’s hard to say which segments we’re still not going to be, because they are, you know they’re very relevant to what we’re doing. Of course, our target will be the large volume that Ford will ship next year. “