Homegrown electric vehicle (EV) charging solutions provider Exicom has acquired US-based DC fast charging technology company Tritium for USD 37 million, approximately Rs 310 crore, according to a senior company official. This acquisition marks a significant milestone for Exicom as it expands its footprint in international markets, particularly in EV charging technology.
Exicom Managing Director Anant Nahata shared the company’s plans for Tritium’s integration and the upcoming establishment of a manufacturing unit in Hyderabad. The facility will leverage Tritium’s DC fast charging technology to develop solutions for electric vehicles, expected to become operational 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. The comprehensive deal encompassing four key regions — the UK, the Netherlands, the United States, and Australia — amounts to USD 37 million,” Nahata said.
As part of the acquisition, Exicom has absorbed Tritium’s entire workforce of 300 employees, a move Nahata described as an opportunity to drive innovation in the EV charging sector.
“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 added.
Tritium, listed on Nasdaq, specializes in designing and manufacturing proprietary hardware and software for DC fast chargers. Their chargers are particularly suited for challenging weather conditions, including India’s extreme temperatures, which range from -20 degrees Celsius to 55 degrees Celsius.
“Tritium chargers are ideal for India’s challenging weather conditions where temperatures vary from -20 degrees Celsius to 55 degree Celsius, and it will further improve the reliability and efficiency of Indian EV infrastructure,” Nahata noted.
Tritium’s clients include major global brands such as BP Pulse, ChargePoint, EV Connect, EVCS, and Shell Recharge, underscoring the company’s established presence in the EV charging industry.
Exicom has also reported a dominant position in the Indian market, claiming a 40% share in the EV residential charging segment and a 25% share in public charging. The company has partnered with leading automobile brands such as MG, Tata, Kia Motors, Mercedes Benz, JBM, Volvo, Mahindra, and Hyundai.
“Exicom has successfully acquired Tritium’s facility in Tennessee. We are dedicated to expanding our manufacturing footprint with an upcoming facility in Hyderabad, India, set to become operational by the end of calendar year 2025. This expansion will allow us to localize Tritium’s global expertise and address the increasing demand for innovative charging solutions,” Nahata stated.
With three manufacturing units and two research and development centers in India, Exicom is well-positioned to capitalize on this acquisition and contribute to the evolving EV landscape.
