New Delhi, 08 August 2024 – Exicom Tele-systems Limited (NSE: EXICOM), India’s largest Electric Vehicle (EV) charger manufacturer, announced today that its subsidiary Exicom Power Solutions B.V. Netherlands and other step-down subsidiaries, have entered into a definitive agreement to acquire the business and assets of Tritium, a distinguished global leader in DC Fast Chargers, headquartered in Australia.
Key Details of the Acquisition
- Global Presence: Tritium, with over 13,000 DC Fast Chargers sold in 47 countries, is recognized as a leading industry brand globally. This acquisition will anchor Exicom’s global EV charger business, leveraging Tritium’s established presence.
- Strategic Facilities: The acquisition includes Tritium’s manufacturing facility in Tennessee, USA, and a world-class engineering centre in Brisbane, Australia. These facilities will enhance Exicom’s existing operations in Asia and expand its global reach.
- Innovation and R&D: The acquisition will amplify Exicom’s commitment to research and development, driving innovation in the growing EV industry.
About Tritium
Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable liquid-cooled DC Fast Chargers for electric vehicles. Tritium’s chargers are known for their aesthetic appeal, durability, and engineering that simplifies installation, ownership, and usage.
Strategic Vision and Growth
Anant Nahata, CEO of Exicom, stated, “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. Exicom and Tritium have a complementary sales and product footprint and have each 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.”
According to BloombergNEF’s “Economic Transition Scenario,” EVs are slated to reach 45 percent of global passenger-vehicle sales by 2030 and 73 percent by 2040. This acquisition positions Exicom to capitalize on this growth, expanding EV infrastructure adoption globally.
About Exicom
Headquartered in New Delhi, India, Exicom is a leading power management solutions company, offering cutting-edge EV charging and energy storage solutions across over 15 countries. Exicom’s comprehensive range of smart AC and DC Fast Chargers caters to all types of drivers and vehicles, ensuring seamless and efficient charging experiences. In the energy storage sector, Exicom provides robust energy management solutions to telecommunications and industrial customers. Exicom employs approximately 1,200 professionals worldwide and serves a diverse customer base spanning Africa, the Middle East, and Asia.
For more information, please visit Exicom.
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