Aussie manufacturing success: Tritium announces record results

Brisbane-based DC fast vehicle charging manufacturer Tritium DCFC has announced that it set a new production record and with continuing expansion of its US factory the company now claims to have the largest charger production plans of any company outside China.

The company set a new production record, with preliminary results from 1 January to 30 April 2023 of approximately 3200 units, nearly achieving the company’s total production of 3572 units for calendar year 2022 in the first four months of this year.

According to an update it achieved record revenue of $57 million in the year to date, a year-over-year growth rate of 237% over the $17 million achieved in the same time frame the previous year.

“Both the ongoing support from our largest investor and our preliminary results for the period 1 January 2023 through 30 April 2023 demonstrate the continued strong demand for Tritium’s products and services, and successful manufacturing scale-up to meet the demand for fast-charging infrastructure as the world shifts towards electrification,” said Tritium CEO Jane Hunter. “With our rapidly expanding production capacity and strategic customer partnerships, Tritium has maintained a strong market position and we believe the company is well positioned to compete for number one in market share.”

In January, Tritium secured the largest order in company history with BP. These chargers are planned to be installed for fleets and the general public in the United States, the United Kingdom, Europe and Australia. Also in January, Tritium was named the preferred fast charger provider to Evyve, the UK charging network. Evyve has ordered 350 Tritium fast chargers to date as part of its plans to install 10,000 EV charging stations by 2030 to become the UK’s largest charger network.

In February, Tritium also secured a 300 fast charger purchase order by OK a.m.b.a., Denmark’s largest fuel retailer.

The company now has an order backlog valued at approximately $153 million, driven by continued strong orders, compared to $120 million for the same time frame in the previous year.

Founded in Brisbane, Tritium is now listed in the US on the NASDAQ and is manufacturing DC chargers both in Australia and at its new factory in Tennessee.