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Exicom Tele-systems, India’s leading electric vehicle (EV) charger manufacturer, announced today, August 8, that it will acquire the business and assets of Tritium Group, a distinguished global leader in DC fast chargers.
NEW DELHI: Exicom Tele-systems, India’s leading electric vehicle (EV) charger manufacturer, announced today, August 8, that it will acquire the business and assets of Tritium Group, a distinguished global leader in DC fast chargers. This acquisition will position the company as a major player on the global stage.
Through its subsidiary Exicom Power Solutions B.V. Netherlands and other step-down subsidiaries, Exicom has entered into a definitive agreement to acquire the business and assets of Tritium, a global leader in DC Fast Chargers headquartered in Australia.
This strategic acquisition is expected to significantly bolster Exicom’s global footprint, enabling the company to leverage Tritium’s established presence in 47 countries and further its ambition of becoming a dominant force in the EV charging industry worldwide.
Tritium, founded in 2001, is renowned for its advanced liquid-cooled DC Fast Chargers, which are designed for durability and ease of use in challenging environments. To date, Tritium has sold over 13,000 DC Fast Chargers globally, solidifying its reputation as an industry leader.
With Tritium’s manufacturing facility in Tennessee, USA, and a world-class engineering centre in Brisbane, Australia, Exicom will gain access to cutting-edge technology and expertise, enhancing its capability to innovate and scale its operations. This acquisition not only expands Exicom’s geographical reach but also amplifies its research and development efforts, paving the way for new advancements in EV infrastructure.
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Anant Nahata, CEO of Exicom, expressed his enthusiasm for the acquisition, stating, “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 complementary sales and product footprints 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.”
The acquisition comes at a pivotal time for the EV industry. According to BloombergNEF’s “Economic Transition Scenario,” EVs are expected to account for 45% of global passenger-vehicle sales by 2030 and 73% by 2040. The combined strengths of Exicom and Tritium will position the company to capitalize on this growing demand, serving diverse markets and accelerating the adoption of EV infrastructure globally.
Exicom’s enhanced product portfolio, now bolstered by Tritium’s expertise, will allow the company to cater to various EV charging use cases across different regions, offering more comprehensive solutions to meet the needs of a rapidly evolving market.
Headquartered in New Delhi, India, Exicom is a leading power management solutions company with a strong presence in over 15 countries. The company offers a wide range of smart AC and DC Fast Chargers, designed to provide seamless and efficient charging experiences for all types of drivers and vehicles. In addition to its EV charging solutions, Exicom also delivers robust energy management systems to telecommunications and industrial customers. With approximately 1,200 professionals worldwide, Exicom serves a diverse customer base across Africa, the Middle East, and Asia.
The acquisition of Tritium marks a significant milestone in Exicom’s journey, reinforcing its commitment to driving innovation and expanding its influence in the global EV charging market. As the world transitions towards a more sustainable future, Exicom’s strategic moves will likely play a crucial role in shaping the EV landscape for years to come.
