Exicom acquires US EV charging company Tritium for nearly Rs 310 crore

Home grown EV charging solutions firm Exicom has acquired US-based DC fast charging technology company Tritium for USD 37 million, or about Rs 310 crore, a senior company official said.

Exicom managing director Anant Nahata told PTI that the company is setting up a manufacturing unit in Hyderabad where it will use DC (Direct Current) fast charging technology of Tritium to develop solutions for electric vehicles.

The Hyderabad facility is expected to be 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.

Exicom has absorbed the entire workforce of 300 people at Tritium in the company.

"With the integration of Tritium's 300 talented individuals, Exicom will leverage synergies an