- Exicom to acquire business and assets of Tritium, a
distinguished global leader in DC Fast Chargers, headquartered in
Australia
- Acquisition seen as an ideal anchor towards building a global
EV charger business with Tritium's presence in 47 countries
- Exicom will have access to Tritium's cutting-edge manufacturing
facility in Tennessee, USA, as
well as a world-class engineering centre in Brisbane, Australia.
NEW DELHI, Aug. 8, 2024 /PRNewswire/ -- Exicom Tele-systems
Limited (NSE: EXICOM), (along with its subsidiaries together
referred to as, "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 under which it will acquire business and assets of
Tritium group of companies (henceforth referred to as "Tritium"), a
distinguished global leader in DC Fast Chargers, headquartered in
Australia.
With over 13,000 DC Fast Chargers sold in 47 countries, Tritium
is recognised as a leading industry brand globally. 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 designed for
both aesthetic appeal and durability in tough environments. They
feature engineering that simplifies installation, ownership, and
usage.
With this landmark acquisition, Exicom is set to unlock
substantial long-term growth and value for its stakeholders. The
acquisition adds Tritium's manufacturing facility in Tennessee, USA, as well as a world-class
engineering centre in Brisbane,
Australia to Exicom's existing presence in Asia. The acquisition expands Exicom's global
reach and amplifies its commitment to research and development to
drive innovation in this growing industry. With the complementary
product portfolio of Exicom and Tritium, the acquisition provides
the opportunity to serve the different use cases across the world
and expand EV infrastructure adoption.
According to BloombergNEF's 'Economic Transition Scenario',
which forecasts EV growth based on current techno-economic
trends, EVs are slated to reach 45 percent of global
passenger-vehicle sales by 2030 and 73 percent by 2040.
Anant Nahata, CEO,
Exicom, said, "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."
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 cater 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, Middle
East, and Asia.
Get more details on www.exicom.in. Follow Exicom on LinkedIn
Photo: https://mma.prnewswire.com/media/2478171/Exicom.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/exicom-to-acquire-industry-leader-tritium-expands-global-footprint-in-ev--charging-302217771.html