According to a senior corporate official, US-based DC fast charging technology startup Tritium was purchased by EV charging solutions company Exicom for USD 37 million, or roughly Rs 310 crore. Anant Nahata, managing director of Exicom, told PTI that the company is establishing a manufacturing facility in Hyderabad where it will utilize Tritium’s DC (Direct Current) quick charging technology to create electric car solutions.
By the end of 2025, the Hyderabad facility should be operating.
“This calculated investment demonstrates Exicom’s strong global market positioning and our dedication to growing our operating capacities over a range of regions. The transaction, which is worth USD 37 million, is extensive and covers four important regions: the UK, the Netherlands, the US, and Australia, according to Nahata.
Listed on the Nasdaq Electric vehicle DC fast chargers are created by Tritium using in-house hardware and software.
According to Nahata, Tritium chargers will increase the dependability and effectiveness of India’s EV infrastructure and are perfect for the country’s harsh weather, which ranges from -20 to 55 degrees Celsius.
Global names like BP Pulse, ChargePoint, EV Connect, EVCS, and Shell Recharge are among Tritium’s clientele, according to Nahata.
Exicom asserts that it holds a 25% market share in EV public charging and a 40% market share in EV residential charging. MG, Tata, Kia Motors, Mercedes Benz, JBM, Volvo, Mahindra, and Hyundai are some of its vehicle partners.
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