Exicom Tele-systems announced that it has entered into a definitive agreement to acquire the business and assets of the Tritium group of companies (henceforth referred to as “Tritium”), a renowned global leader in DC fast chargers with its headquarters located in Australia. The acquisition will be made through Exicom Power Solutions B.V. Netherlands and other step-down subsidiaries.
Tritium is acknowledged as one of the top brands in the business worldwide, having sold over 13,000 DC fast chargers in 47 different countries. The company was founded in 2001, and develops and produces patented hardware and software to produce sophisticated and reliable liquid-cooled DC Fast Chargers for electric vehicles.
Its chargers are made to be both aesthetically pleasing and robust under challenging conditions. They have engineering designed to make ownership, use, and installation easier.
Key Takeaways
- The acquisition is viewed as the perfect starting point for creating a worldwide EV charging company, given Tritium’s reach across 47 nations.
- Exicom will have access to both Tritium’s state-of-the-art engineering center in Brisbane, Australia, and its state-of-the-art manufacturing site in Tennessee, USA.
Strategic Move Post the Acquisition
As a result of this major acquisition, Exicom is anticipated to produce considerable long-term growth and value for its stakeholders. The acquisition broadens Exicom’s current footprint in Asia by adding Tritium’s Tennessee, USA, manufacturing plant and its cutting-edge engineering center in Brisbane, Australia.
Exicom’s commitment to research and development to promote innovation in this quickly growing company, as well as its global reach, are both enhanced by the acquisition. The acquisition provides the opportunity to support a range of use cases globally and accelerate the adoption of EV infrastructure thanks to the complementary product portfolios of Exicom and Tritium.
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.”
The Growth of EV Sales
Based on current techno-economic trends, BloombergNEF’s “Economic Transition Scenario” projects that EV sales would reach 45% of global passenger vehicle sales by 2030 and 73 percent by 2040.
