Exicom to Acquire Industry Leader Tritium; Expands Global Footprint in EV Charging

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Exicom Tele-systems Limited, along with its subsidiaries together referred to as, “Exicom”), India’s largest Electric Vehicle (“EV”) charger  manufacturer, announced 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.”