Exicom Strengthens Global EV Charging Network With $30 Million Tritium Acquisition

India’s leading electric vehicle (EV) charger manufacturer Exicom, has announced the acquisition of Tritium, known for designing and producing DC fast chargers. The acquisition is worth nearly $30 million.

In details of the acquisition, Exicom will receive Tritium’s manufacturing plant in Tennessee, United States (U.S.), and its engineering center in Brisbane, Australia. Tritium, headquartered in Australia, has sold over 13,000 DC fast chargers in 47 countries worldwide. Moreover, the company’s engineering expertise has also simplified the installation, ownership, and usage of its charging solutions.

“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 Anant Nahata, CEO of Exicom. “Exicom and Tritium have a complementary sales and product footprint, and have each established leadership in their respective regions.”

Exicom’s Global Reach Expansion

As the acquisition underlines Exicom’s goal for research and development, the addition of Tritium’s plants in the U.S. and Australia to the company’s existing presence in Asia will resultingly bolster its global footprint and capabilities.

Notably, Tritium had filed for insolvency earlier this year amid financial difficulties. The sale of its business and assets to Exicom will help the company’s technology and solutions aim a wider global reach.

“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,” Nahata added.

Recently, Exicom has also made other strategic actions in EV charging by partnering with Hubject to enhance the charging experience for EV owners across India by utilizing its interoperability technology. With Exicom’s latest acquisition, the company is making major strides in accelerating EV adoption while expanding its global presence.

Read More: Hubject and Exicom Partner To Revolutionize EV Charging In India

By combining Exicom’s and Tritium’s product portfolios, the merged entity will be able to serve a wider range of use cases across the world, further expanding EV adoption infrastructure.

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