Exicom set to acquire Tritium Charging, following EV charging firm’s insolvency

Exicom Tele-systems Limited, an EV charging firm based in India, has agreed to acquire Tritium Charging through its subsidiary, Exicom Power Solutions B.V. Netherlands.

Tritium has long been a big name in the EV charging industry, with the firm developing a range of DC fast chargers that have been used by the likes of evyve and Shell, but disaster hit the firm earlier this year when it appointed administrators. That was following the company being delisted from the NASDAQ stock index, having previously been valued at $2 billion. 

In total, Tritium has sold over 13,000 DC fast chargers across 47 countries since its inception in 2001. The future of the firm’s main office in Brisbane, Australia, and its manufacturing facility in Tennessee, USA, was thrown into doubt following the administration, but that has now been secured following the acquisition by Exicom. 

Anant Nahata, CEO of Exicom, commented, "This acquisition aligns with Exicom’s strategic vision to contribute to a sustainable future by fostering emission-free mobility. Both Exicom and Tritium have established strong positions in their respective regions with complementary sales and product offerings. We are eager to integrate Tritium’s workforce, customers, partners, and other stakeholders to further expand and deliver enhanced, reliable charging solutions globally."

The integration of Tritium's assets is expected to propel Exicom into new markets, although the firm already operates in the UK, having introduced a range of DC fast chargers at the London EV Show in November 2023.