Tritium acquired by Indian EV charger company
Exicom Tele-systems Limited, India’s largest electric vehicle charger manufacturer, has announced that its subsidiary Exicom Power Solutions B.V. Netherlands has entered into an agreement to acquire the business and assets of Australia’s Tritium group of companies, considered a global leader in DC fast chargers.
With over 13,000 DC fast chargers sold in 47 countries, Tritium is recognised as a leading industry brand globally. 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, which had over 75% market share for fast chargers in Australia, went through a rapid international expansion in recent years, including a NASDAQ listing, before a collapse into administration late in 2023. In May the company announced that it will not appeal a delisting determination by NASDAQ.
Exicom said that 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. 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.
“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,” said Exicom CEO Anant Nahata. “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.”
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