A senior corporate official claims that EV charging solutions provider Exicom paid USD 37 million, or around Rs 310 crore, to acquire US-based DC fast charging technology startup Tritium. The company is setting up a manufacturing plant in Hyderabad where it will use Tritium’s DC (Direct Current) quick charging technology to manufacture electric car solutions, according to Anant Nahata, managing director of Exicom, who spoke with PTI.
“Exicom’s strategic investment underscores our commitment to expanding our operational capabilities across multiple regions and our robust global market positioning.” According to Nahata, the deal, which is valued at USD 37 million, is substantial and spans four significant regions: the UK, the Netherlands, the US, and Australia.
Tritium uses proprietary hardware and software to manufacture DC fast chargers for electric vehicles that are listed on the Nasdaq.
Tritium’s clientele includes well-known brands like BP Pulse, ChargePoint, EV Connect, EVCS, and Shell Recharge, according to Nahata.
According to Exicom, it has a 40% market share in EV residential charging and a 25% market share in EV public charging. Among its car partners are MG, Tata, Kia Motors, Mercedes Benz, JBM, Volvo, Mahindra, and Hyundai.
