Exicom to Acquire Tritium, Expanding Global Reach in DC Fast Chargers

On August 8, 2024, Exicom Tele-Systems Limited announced to the stock exchanges that its subsidiary, Exicom Power Solutions B.V. Netherlands, along with other step-down subsidiaries, had signed a definitive agreement.

The agreement is to acquire the business and assets of the Tritium group of companies. Tritium, headquartered in Australia, is a leading global provider of DC Fast Chargers, having sold over 13,000 units in 47 countries. Established in 2001, Tritium specialises in designing and manufacturing advanced liquid-cooled DC Fast Chargers for electric vehicles, known for their durability, aesthetic design, and ease of installation.

This significant acquisition positions Exicom to unlock considerable long-term growth and value for its stakeholders. The deal includes Tritium’s manufacturing facility in Tennessee, USA, and a state-of-the-art engineering centre in Brisbane, Australia, enhancing Exicom’s global footprint and complementing its existing presence in Asia. The acquisition strengthens Exicom’s commitment to innovation, research, and development in the rapidly expanding EV industry. It also broadens Exicom’s ability to meet diverse global needs and support the expansion of electric vehicle infrastructure.

Commenting on this acquisition, the CEO of Exicom, Anant Nahata, 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 complementary sales and product footprints 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.”

BloombergNEF’s “Economic Transition Scenario” predicts that electric vehicles (EVs) will account for 45% of global passenger-vehicle sales by 2030 and 73% by 2040, reflecting the growing importance and potential of the EV market.

On August 8, 2024, the share price of Exicom Tele-Systems Ltd opened at ₹389.80, touching the day’s high at ₹408.85, as of 10:58 AM on the NSE.

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