Exicom Set To Acquire Tritium, Expands Footprint In EV Charging

By Chitrika Grover/ Updated On Thu, Aug 8th, 2024

Highlights :

With over 13,000 DC Fast Chargers sold in 47 countries, Tritium, designs and manufactures proprietary hardware and software to create liquid-cooled DC Fast Chargers for electric vehicles.

Exicom Set To Acquire Tritium, Expands Footprint In EV Charging

Exicom Tele-systems Limited along with its subsidiaries together referred to as, Exicom, an Electric Vehicle (EV) charger manufacturer, today entered into a definitive agreement under which it will acquire business and assets of Tritium group of companies (referred to as Tritium), an Australian based DC Fast Chargers provider.

With over 13,000 DC Fast Chargers sold in 47 countries, Tritium, designs and manufactures proprietary hardware and software to create liquid-cooled DC Fast Chargers for electric vehicles. They feature engineering that simplifies installation, ownership, and usage.

With this acquisition, Delhi-based Exicom is set to unlock long-term growth and value for its stakeholders. The acquisition adds Tritium’s manufacturing facility in Tennessee, USA, as well as an engineering center in Brisbane, Australia to Exicom’s existing presence in Asia. The acquisition expands Exicom’s global reach and supports its commitment to research and development. With the complementary product portfolio of Exicom and Tritium, the acquisition provides the opportunity to serve the different use cases across the world and expand EV infrastructure adoption.

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According to BloombergNEF’s “Economic Transition Scenario,” which forecasts EV growth based on current techno-economic trends, EVs are slated to reach 45 percent of global passenger-vehicle sales by 2030 and 73 percent by 2040.

Anant Nahata, Chief Executive Officer (CEO), of Exicom, said, “Exicom and Tritium have complementary sales and product footprints and have each established leadership in their respective regions. We look forward to working with Tritium’s employees, customers, partners, and other stakeholders to grow the business further and provide faster, more reliable charging experiences to EV users across the globe.”