Indian EV charging solutions company Exicom has acquired U.S.-based DC fast charging technology provider Tritium for $37 million (approximately ₹310 crore), according to a senior company official. Exicom Managing Director Anant Nahata stated that the company is establishing a manufacturing facility in Hyderabad, where it will integrate Tritium’s DC fast charging technology to develop EV charging solutions. The Hyderabad unit is expected to be operational by the end of 2025.
“This acquisition reinforces Exicom’s strong global presence and our commitment to enhancing operations across key markets. The $37 million deal spans the U.K., the Netherlands, the U.S., and Australia,” Nahata said.
Exicom has also integrated Tritium’s 300 employees into its workforce. “With Tritium’s team on board, Exicom will capitalize on synergies to drive innovation in the EV charging industry, enabling us to deliver top-notch solutions to our clients,” Nahata added.
Tritium, listed on Nasdaq, specializes in designing and manufacturing hardware and software for DC fast chargers used in electric vehicles. Nahata mentioned that Tritium’s chargers are well-suited for India’s varying climate, withstanding temperatures ranging from -20°C to 55°C, improving the durability and efficiency of the country’s EV infrastructure.
Tritium’s global clients include major names like BP Pulse, ChargePoint, EV Connect, EVCS, and Shell Recharge.
Exicom currently holds a 40% market share in residential EV charging and 25% in public EV charging. Its automotive partners include major brands such as MG, Tata, Kia Motors, Mercedes Benz, JBM, Volvo, Mahindra, and Hyundai.
It has acquired Tritium’s facility in Tennessee and is expanding with a new unit in Hyderabad, which is expected to be operational by 2025. This expansion will help localize Tritium’s global expertise to meet the growing demand for advanced EV charging solutions in India. Exicom operates three manufacturing plants and two R&D centers in India.
