Schedule a Call Back
Exicom acquires US EV charging firm Tritium for $37 million
Industry News- Oct 08,24
Tritium specialises in creating hardware and software for DC fast chargers, serving notable clients such as BP Pulse, ChargePoint, and Shell Recharge.
Exicom, an Indian company specialising in EV charging solutions, has acquired US-based Tritium, a leader in DC fast charging technology, for $37 million. Anant Nahata, Managing Director, Exicom confirmed the acquisition and announced plans to establish a manufacturing facility in Hyderabad, which will leverage Tritium's technology to develop innovative electric vehicle solutions.
The new Hyderabad facility is anticipated to commence operations by the end of 2025. Nahata highlighted that this investment bolsters Exicom's international presence and enhances its operational capabilities in key markets, including the UK, the Netherlands, the US, and Australia.
With the acquisition, Exicom gains Tritium's workforce of 300 employees, aiming to drive innovation in the EV charging sector. Nahata noted that Tritium's chargers are well-suited for India's varied climate, thereby improving the reliability of local EV infrastructure.
Tritium specialises in creating hardware and software for DC fast chargers, serving notable clients such as BP Pulse, ChargePoint, and Shell Recharge. Exicom currently holds a 40% share in the residential EV charging market and a 25% share in public charging, collaborating with major automobile brands like Tata and Mercedes Benz.
The acquisition also includes Tritium's facility in Tennessee, with Exicom committed to expanding its manufacturing capabilities in India to meet the rising demand for advanced charging solutions. The company operates three manufacturing units and two research and development centres in India.
(TOI)
Related Stories
Heating & Cooling Equipment
Ingersoll Rand Opens New Manufacturing Facility in Sanand, Gujarat
Ingersoll Rand’s new manufacturing facility in Sanand is one of its largest investments in India, and is set to begin production by the fourth quarter of fiscal year 2025.
Read moreRailways
NBC Bearings and iMRail Partner to Transform India’s Next-Gen Mobility Systems
The collaboration between NEI and iMRail marks a significant milestone in NEI’s expansion beyond its core bearings expertise into advanced mobility systems.
Read moreAuto & Auto Components
Revolt Motors Welcomes Roy Kurian as President to Lead Future Growth
Revolt Motors reinforces its commitment to global leadership, aiming to be India’s No.1 electric motorcycle brand and a major player in sustainable mobility worldwide.
Read moreRelated Products
Automotive Oil Pump
AUTO COMPONENTS & ACCESSORIES
Kalpak Auto Pvt Ltd offers a wide range of
automotive oil pump.
Tata Motors unveils facilities for development of Hydrogen propulsion tech
AUTO COMPONENTS & ACCESSORIES
Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more
Tata Motors plans petrol powertrain for Harrier and Safari SUVs
AUTO COMPONENTS & ACCESSORIES
Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
