Exicom Acquires Tritium to Expand Global EV Charging
Exicom Tele-systems Limited, India's largest EV charger manufacturer, has announced a significant acquisition to bolster its position in the global EV charging market.
Through its subsidiary Exicom Power Solutions BV Netherlands and other step-down subsidiaries, Exicom has entered into a definitive agreement to acquire the business and assets of Tritium, a distinguished global leader in DC Fast Chargers in Australia.
Future of mobility
Exicom, with headquarters in New Delhi, India, has established itself as a leading power management solutions company with a presence in more than 15 countries. The company offers cutting-edge EV charging and energy storage solutions, including a comprehensive range of smart AC and DC Fast Chargers designed to meet the needs of all types of drivers and vehicles.
In the energy storage sector, Exicom provides robust energy management solutions 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 is a strategic move that aligns with Exicom's vision of contributing to a sustainable and emission-free future for mobility.
Anant Nahata, CEO of Exicom, expressed confidence in the acquisition, stating: "This acquisition aligns 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 each has 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."
Expanding global presence and innovation
With more than 13,000 DC Fast Chargers sold in 47 countries, Tritium is recognised globally as a leader in the industry. Founded in 2001, it designs and manufactures advanced liquid-cooled DC Fast Chargers for EVs, featuring proprietary hardware and software that ensure reliability, durability and user-friendly experiences.
Tritium's chargers are aesthetically appealing and engineered for harsh environments, simplifying installation, ownership and usage.
The acquisition of Tritium adds significant assets to Exicom's portfolio, including Tritium's manufacturing facility in Tennessee, USA and a world-class engineering centre in Brisbane, Australia.
The expansion will allow Exicom to enhance its global reach and amplify its commitment to research and development, driving innovation in the rapidly growing EV industry.
Long-term growth and value
The landmark acquisition will unlock substantial long-term growth and value for Exicom's stakeholders. The integration of Tritium's product portfolio with Exicom's existing offerings provides an opportunity to serve diverse use cases across the globe and accelerate the adoption of EV infrastructure.
By combining their expertise, Exicom and Tritium are poised to provide faster and more reliable charging experiences, supporting the global shift toward electric mobility.
The future of electric mobility
Acquisitions occur when the EV industry is experiencing rapid growth. According to Bloomberg NEF's 'Economic Transition Scenario,' which forecasts EV growth based on current techno-economic trends, EVs are expected to account for 45% of global passenger-vehicle sales by 2030 and 73% by 2040.
Exicom's acquisition of Tritium positions the company to be a key player in this evolving landscape, driving the future of electric mobility and supporting the global transition to sustainable transportation.
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