Electric vehicles (EVs) are expected to account for more than 40 percent of all car sales by 2030. With this anticipated growth, auto manufacturers continue to look for solutions to help meet market demand for affordable, high-performing EVs. A company in Mercy Investment Services’ Environmental Solutions Fund was recently purchased by a major auto manufacturer for its EV battery management system.
AMP’s battery management system encompasses both hardware and software that manages the charging, discharging and battery health for EVs – critical components allowing for smaller batteries and less expensive cars. Currently, more than 700,000 EVs use AMP to optimize their battery performance. AMP saw steady growth in vehicles using the system through 2023, tripling the number of vehicles in the first nine months of 2023. Recently, Ford Motor Company purchased AMP to enhance its EV capabilities, with the goal of increasing EV adoption and improving customers’ experience.
Mercy Investment Services’ Environmental Solutions Fund encompasses more than 750 companies and projects that address solutions to the climate crisis through technology, renewable energy, sustainable agriculture and more. Learn more about these investments.