Exicom has purchased the American company Tritium for USD 37 million, significantly expanding its presence in the electric vehicle (EV) charging industry. The company plans to establish a manufacturing facility in Hyderabad, set to be operational by 2025, to utilize Tritium’s DC fast-charging technology. This strategy is intended to boost Exicom’s international profile and operational efficiency.
Exicom, a company specialising in EV charging solutions, has recently announced its acquisition of Tritium, a United States-based provider of DC fast charging technology, for a sum of USD 37 million, which equates to approximately Rs 310 crore. This acquisition was confirmed by Anant Nahata, Exicom’s managing director, in a statement to PTI. Alongside this development, Nahata disclosed plans to establish a new manufacturing facility in Hyderabad, India. This facility will harness Tritium’s DC fast charging technology to craft advanced charging solutions tailored for electric vehicles. The Hyderabad site is slated to commence operations by the end of 2025.
Nahata elaborated on the strategic significance of this acquisition, noting its role in increasing Exicom’s international presence and its commitment to enhancing operational capacities across various global locations. He emphasised that the deal extends across four major regions— the UK, the Netherlands, the United States, and Australia—totalling USD 37 million. In addition, Exicom has integrated Tritium’s entire workforce of 300 employees into its operations.
Nahata commented on the integration, highlighting that the addition of Tritium’s 300 skilled professionals will enable Exicom to leverage synergistic benefits and promote innovation in the electric vehicle charging industry. This partnership is expected to enhance their ability to provide high-quality solutions to their clients. Tritium, which is listed on Nasdaq, is known for its design and manufacturing of innovative hardware and software for DC fast chargers used for electric vehicles.
He also highlighted the suitability of Tritium chargers for the diverse and challenging climatic conditions in India, which range from -20 degrees Celsius to 55 degrees Celsius, and noted that this technology would enhance the reliability and efficiency of India’s EV infrastructure.
Tritium’s clientele includes prominent global companies such as BP Pulse, ChargePoint, EV Connect, EVCS, and Shell Recharge. According to Nahata, Exicom holds a significant market share in the EV charging sector, with 40 per cent in residential charging and 25 per cent in public charging. Exicom’s automotive partners include notable brands like MG, Tata, Kia Motors, Mercedes Benz, JBM, Volvo, Mahindra, and Hyundai.
Lastly, Nahata mentioned that Exicom has taken over Tritium’s facility in Tennessee as part of its strategic expansion, which includes the upcoming Hyderabad facility. This expansion is designed to localize and leverage Tritium’s global expertise to meet the growing demand for innovative charging solutions in India. Exicom currently operates three manufacturing units and two research and development centres across India.
