India-based Electric Vehicle (EV) charger manufacturer Exicom Tele-systems, through its subsidiaries, has agreed to acquire the business and assets of the Tritium group of companies.
Established in 2001, Tritium is an Australia-based provider of DC Fast Chargers that markets more than 13,000 DC Fast Chargers across 47 countries.
The Australian company designs and manufactures unique hardware and software to create advanced and reliable liquid-cooled DC Fast Chargers for electric vehicles.
Its chargers are designed for both aesthetic appeal and durability in tough environments, and they are engineered to simplify installation, ownership, and usage, said Exicom.
Exicom CEO Anant Nahata said: “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.”
According to BloombergNEF’s ‘Economic Transition Scenario’, EVs are anticipated to reach 45% of global passenger-vehicle sales by 2030 and 73% by 2040.
Exicom said that the acquisition of the Australian DC Fast Chargers company would bring considerable long-term growth and value for its stakeholders.
The transaction is expected to add Tritium’s manufacturing facility in Tennessee, US, along with an advanced engineering centre in Brisbane, Australia to Exicom’s existing operations in Asia.
In addition, it will expand the Indian company’s global reach and support its strategy for research and development in the EV charging industry.
Furthermore, Exicom and Tritium have a complementary product portfolio, and the proposed acquisition will serve different use cases and expand EV infrastructure adoption.
