EV Charger Startup Exicom Tele-systems to Buy Australia-based Tritium

Karan BalodiAugust 10, 2024

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Three points you will get to know in this article:

Acquisition deal is valued at up to $29.63 million (around Rs 250 Cr).
The deal involves Exicom’s subsidiaries executing a sale agreement with Tritium Group entities in the US & Australia.
With this, Exicom is committed to expand its influence in the global EV charger market.

Exicom Tele-systems Is Set To Add Australia Based EV Charger Company ‘Tritium’ In It’s Portfolio

Exicom Tele-systems, an EV charger manufacturer based in New Delhi, said today that it and other step-down subsidiaries, through its subsidiary Exicom Power Solutions B.V. Netherlands, had reached a final agreement to buy the business and assets of the Tritium group of enterprises, a leading manufacturer of DC fast chargers worldwide.

With a potential value of up to $29.63 million, the acquisition will help Exicom grow its EV charger business internationally.

“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. Both Exicom and Tritium have demonstrated leadership in their respective areas and have complementary product and sales portfolios.” stated Anant Nahata, CEO of Exicom.

“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 stated.

What Does Tritium Do?

Tritium, a company founded in 2001, develops and produces patented hardware and software to produce sophisticated and dependable liquid-cooled DC Fast Chargers for electric cars.

The Australian company says it has fixed more than 13,000 DC chargers in 47 different nations.

According to the manufacturer, their chargers are made to be both aesthetically pleasing and durable in challenging settings. They have engineering designed to make ownership, usage, and installation simpler.

What Value Is Tritium Going to Add In for Exicom?

Exicom’s existing presence in Asia is expanded by the acquisition to include Tritium’s manufacturing facility in Tennessee, USA, and an engineering center in Brisbane, Australia.

Exicom’s worldwide reach and dedication to research and development to spur innovation in this developing sector are further enhanced by the acquisition.

The purchase offers the potential to extend the adoption of EV infrastructure globally and serve a variety of use cases thanks to the complementary product portfolios of Exicom and Tritium.

Based on current techno-economic trends, BloombergNEF’s “Economic Transition Scenario” projects that EV sales will reach 45% of global passenger vehicle sales by 2030 and 73% by 2040.