Hyderabad: To expand electric vehicle (EV) charging facilities across the country, Exicom, an EV charging solutions firm, has acquired US-based DC fast charging technology company Tritium for USD 37 million. The company is set to launch a manufacturing unit in Hyderabad where it will use the DC (Direct Current) fast charging technology of Tritium to design EV solutions. The facility is expected to begin operations by the end of 2025.
According to Exicom, Tritium chargers are ideal for India’s challenging weather conditions where temperatures vary from -20 degrees Celsius to 55 degrees Celsius. As part of the acquisition, Exicom has absorbed the entire workforce of Tritium in the company. Through this collaboration, the company also plans to enhance its ability to deliver world-class solutions to clients.
Exicom claims to have a 40 percent share in the EV residential charging and a 25 percent share in the EV public charging segments. The company’s automobile partners include MG, Tata, Kia Motors, Mercedes Benz, JBM, Volvo, Mahindra, and Hyundai. It currently operates three manufacturing units and two research and development centers in India.
