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Exicom Tele-systems Limited, India’s largest electric vehicle (EV) charger manufacturer, announced that its subsidiary Exicom Power Solutions B.V. Netherlands and its other step-down subsidiaries have entered into a definitive agreement to acquire the business and assets of the Tritium group of companies. Tritium, a global leader in DC fast chargers based in Australia, has sold over 13,000 DC fast chargers in 47 countries and is recognized for its durable and aesthetically appealing designs.
Founded in 2001, Tritium designs and manufactures cutting-edge liquid-cooled DC fast chargers for electric vehicles, which simplify installation, ownership, and usage. With this acquisition, Exicom aims to unlock substantial long-term growth and value for its stakeholders, integrating Tritium’s manufacturing facility in Tennessee, USA, and its engineering center in Brisbane, Australia, into its existing operations in Asia.
The acquisition is set to expand Exicom’s global reach and strengthen its commitment to research and development to foster innovation in the growing EV industry. By combining their product portfolios, Exicom and Tritium can address different use cases across the world and enhance the adoption of EV infrastructure. According to BloombergNEF’s “Economic Transition Scenario,” EVs are anticipated to constitute 45% of global passenger vehicle sales by 2030 and 73% by 2040.
Anant Nahata, CEO of Exicom, stated,“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. 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.”
Earning recognition as a leading industry brand globally, Tritium offers engineering that stands out for its reliability even in challenging environments. With this acquisition, Exicom is poised to leverage Tritium’s expertise and scale its operations effectively to serve an expanding global market for electric vehicle charging solutions. The collaboration promises to enhance the charging experience for EV users worldwide, marking a significant milestone in Exicom’s strategic growth journey.
