Exicom-the established name in electric vehicle charging solutions space of India-has acquired US-based DC fast charging technology firm, Tritium for about USD 37 million or roughly Rs 310 crore. Anant Nahata, managing director of Exicom, confirmed the announcement.Â
Nahata said that by the end of 2025, it expects the acquisition to go live with the setting up of a manufacturing facility in Hyderabad by Exicom. Specific solutions will be created for the Indian EV market using Tritium’s advanced DC fast charging technology. According to Nahata, it is another ‘classic Exicom story’ – investment in international markets and then expanding operational capabilities in different regions.Â
The buy of this broad range extends to four major markets that include the United Kingdom, the Netherlands, the United States, and Australia. Furthermore, in this acquisition, Exicom has integrated the whole workforce from Tritium consisting of 300 employees as part of the integration to take advantage of their knowledge in driving innovation within the EV charging industry. Nahata said that with this integration, Exicom would become even more effective in providing class-of-the-world solutions for its customers.Â
Tritium is quoted on Nasdaq and provides proprietary hardware and software for DC fast chargers to clients all over the world-including, of course, leading ones such as BP Pulse, ChargePoint, and Shell Recharge. According to Nahata, the chargers must be designed for Tritium to handle the varied challenges of India’s weather; some areas reach as low as -20 degrees Celsius, while others can reach as high as 55 degrees Celsius in certain areas, which will ensure high reliability and efficiency for EV’s in India.Â
Exicom now has a considerable market presence, capturing 40 percent market share in the residential charging space of EVs and 25 percent in the public charging space. Exicom partners with industry leaders in automotive companies such as MG, Tata, Kia Motors, and Mercedes Benz.Â
Nahata also pointed out that Exicom’s acquisition of Tritium manufacturing facility in Tennessee was a success, showing that it would pursue all means of augmenting its production capacity. The firm is planning a facility in Hyderabad that will seek to make the firm localized globally with respect to the knowledge and experience gained while trying to respond to a growing appetite in India for the innovation of more charging solutions.Â
The company now has three units for the manufacture in India and two centers for research and development.Â
