Exicom's acquisition of Tritium's business and assets boosts its global presence in the rapidly growing electric vehicle charging industry.
08 Aug 2024 | 3481 Views | By Sarthak Mahajan
Exicom, which describes itself as India's largest Electric Vehicle (EV) charger manufacturer, has announced that its subsidiary Exicom Power Solutions B.V. Netherlands and other step-down subsidiaries have entered into a definitive agreement to acquire the business and assets of Tritium group of companies, a distinguished global leader in DC Fast ...
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Exicom, which describes itself as India's largest Electric Vehicle (EV) charger manufacturer, has announced that its subsidiary Exicom Power Solutions B.V. Netherlands and other step-down subsidiaries have entered into a definitive agreement to acquire the business and assets of Tritium group of companies, a distinguished global leader in DC Fast Chargers headquartered in Australia.
Tritium is a renowned industry brand globally, with over 13,000 DC Fast Chargers sold in 47 countries. Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable liquid-cooled DC Fast Chargers for electric vehicles. Tritium's chargers are designed for aesthetic appeal and durability in tough environments, featuring engineering that simplifies installation, ownership, and usage.
Exicom aims to unlock substantial long-term growth and value for its stakeholders. The acquisition adds Tritium's manufacturing facility in Tennessee, USA, as well as a world-class engineering centre in Brisbane, Australia to Exicom's existing presence in Asia. The acquisition expands Exicom's global reach and amplifies its commitment to research and development to drive innovation in this growing industry. The complementary product portfolio of Exicom and Tritium provides the opportunity to serve different use cases across the world and expand EV infrastructure adoption.
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, CEO of Exicom, stated that this acquisition is in line with Exicom's strategic vision to be a key contributor to the world of tomorrow by enabling an emission-free future for mobility. Exicom and Tritium have a complementary sales and product footprint and have each established leadership in their respective regions. Exicom looks 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.