Exicom acquires US EV charging company Tritium for $37 million
Exicom plans to establish a manufacturing facility in Hyderabad that will utilize Tritium’s technology to create electric vehicle solutions.
India’s Exicom has acquired US-based Tritium, a DC fast charging company, for USD 37 million.
Exicom plans to establish a manufacturing facility in Hyderabad that will utilize Tritium’s technology to create electric vehicle solutions.
The new facility is expected to begin operations by the end of 2025.
“This strategic investment highlights Exicom’s robust positioning in international markets and our commitment to expanding operational capabilities across diverse geographies,” Exicom’s managing director, Anant Nahata, said.
He said Tritium’s chargers are well-suited for India’s diverse climate, improving the reliability of local EV infrastructure.
The acquisition includes Tritium’s manufacturing unit in Tennessee, US, and its engineering centre in Brisbane, Australia.
Exicom has absorbed Tritium’s entire workforce of 300 people, according to a report by Indian news agency PTI.
“With the integration of Tritium’s 300 talented individuals, Exicom will leverage synergies and drive innovation within the EV charging sector. This collaboration will further enhance our ability to deliver world-class solutions to our clients,” Nahata said.
Tritium specializes in developing hardware and software for DC fast chargers, serving clients such as BP Pulse, ChargePoint and Shell Recharge. Exicom holds a 40% share in the residential EV charging market and a 25% share in public charging, partnering with major automobile brands like Tata and Mercedes Benz.
Exicom operates three manufacturing units and two research and development centres in India. Exicom offers solutions in critical power and EV charging and provides sustainable energy storage solutions by leveraging advanced lithium-ion technology.
