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
Electrical & Electronics
Policies are pushing investments in energy-efficient technologies: Benjamin Lin
Our growth has been driven by a combination of local market demand and our focus on exports, particularly to neighbouring regions.
Read moreAuto & Auto Components
BYD shifts to import-only strategy in India amid FDI challenges
BYD currently imports three models from China and believes this strategy will sustain its operations in the near term.
Read moreAutomation & Robotics
Schneider Electric obtains higher level cybersecurity certification for EcoStruxure™ IT DCIM Solutions
This new and higher level of cybersecurity certification underscores Schneider Electric's commitment to leading the industry in secure operations and better protects against cyberthreats.
Read moreRelated Products
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
Electric Vehicle Charger
AUTO COMPONENTS & ACCESSORIES
RRT Electro is engaged in manufacturing of customized Power Electronic Products over two decades having capability to Design, Develop, Prototyping, Regulatory Compliance testing & Certification, Manuf Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
