Though it has scaled back its planned EV production goals and investments as of late, Ford remains committed to an electrified future after signing a host of deals with a variety of raw materials suppliers over the past couple of years, and the automaker recently purchased the same type of giga press machine currently used by Tesla as it works to lower the costs of its future EVs. Now, The Blue Oval continues to move forward with its EV ambitions after purchasing a startup called Auto Motive Power (AMP), according to TechCrunch.
Based out of Los Angeles, California, AMP will actually go away entirely following Ford’s purchase, as the automaker plans to use its existing technology and staff – along with AMP’s headquarters in Santa Fe Springs, California – to further its own EV plans. It’s unclear how much FoMoCo paid to acquire the company, but it employs around 149 people and had raised $26.5 million in capital since it originally launched back in 2017.
As a private company, AMP hasn’t disclosed much of its business dealings over the years, but did previously note that it has powered “most of the world’s top electric OEMs,” and over the years, it has handled power management for a wide variety of vessels including drones, autonomous rideshare vehicles, and hyperloops, though the company’s web site has already been taken down.
According to Ford spokesperson Emma Bergg, Ford will retain most of AMP’s employees, including company founder Anil Paryani, who will now report to Ford EV development boss Alan Clarke in FoMoCo’s Model e all-electric vehicle division. However, COO Lionel Selwood Jr. reportedly won’t be among that group.