Big US Car Manufacturer Makes Another Splash into EVs Through Acquisitions

finviz dynamic chart for  F

Ford Motor (F) is an American auto manufacturer headquartered in Dearborn, Michigan. 

Much like General Motors (GM), Ford is doubling down on the electric vehicle (EV) market.

In fact, Ford recently announced it was boosting its EV spending from $22 billion to $30 billion to develop EVs and batteries for commercial use. 

And to help strengthen its foothold in the market, the company last week announced that it acquired Electriphi. Electriphi is an EV battery management and monitoring firm. 

Through the deal, Ford will combine Electriphi’s software with its Ford Pro business unit, which provides EV fleet services to government and commercial customers.

Ford added that the agreement would also allow it to cut down on charging costs, efficiently track how long vehicles are out on the road, and charge them at company-owned depots. 

And, eventually, Ford intends to have enough charging stations across the U.S. to charge 600,000 EV vans and trucks – bolstering the country’s overall EV infrastructure along the way.

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