- Exicom has entered into a definitive agreement to acquire the business and assets of the Tritium group of companies.
- According to BloombergNEF’s ‘Economic Transition Scenario,’ EVs are slated to account for 45 per cent of global passenger-vehicle sales by 2030 and 73 per cent by 2040.
Exicom Tele-systems Limited, along with its subsidiaries together referred to as, “Exicom” India’s largest Electric Vehicle (“EV”) charger manufacturer, has stated that its subsidiary Exicom Power Solutions BV Netherlands and other step-down subsidiaries have entered into a definitive agreement.
Under this agreement, Exicom will acquire the business and assets of the Tritium group of companies (henceforth referred to as “Tritium”), a distinguished global leader in DC Fast Chargers headquartered in Australia.
Also, with over 13,000 DC Fast Chargers sold in 47 countries, Tritium is recognised as a leading industry brand globally. Established in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced, reliable, liquid-cooled DC Fast Chargers for electric vehicles.
Tritium’s chargers are designed for aesthetic appeal and durability in tough environments. They feature engineering that simplifies installation, ownership, and usage. With this landmark acquisition, Exicom is set to unlock substantial long-term growth and value for its stakeholders.
The acquisition adds Tritium’s manufacturing facility in Tennessee, USA, and a world-class engineering centre in Brisbane, Australia, to Exicom’s existing presence in Asia. It expands Exicom’s global reach and amplifies its commitment to research and development to drive innovation in this growing industry. With the complementary product portfolios of Exicom and Tritium, the acquisition provides the opportunity to serve the different use cases worldwide 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 per cent of global passenger-vehicle sales by 2030 and 73 per cent by 2040.
Anant Nahata, CEO of Exicom, said, “This acquisition aligns 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 complementary sales and product footprints, and each has 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.”
Also, Exicom is a leading power management solutions company, offering cutting-edge EV charging and Energy storage solutions across over 15 countries. Exicom’s comprehensive range of smart AC and DC Fast Chargers cater to all drivers and vehicles, ensuring seamless and efficient charging experiences.