Exicom, a prominent provider of EV charging and critical power solutions, announced the launch of India’s “fastest DC chargers” for electric vehicles, with power outputs of up to 400 kW. The announcement was made on May 14, marking a significant advancement in the country’s EV infrastructure.
The new charger, named Harmony Gen 1.5, is designed with a focus on user convenience, potentially accelerating the adoption of electric vehicles. Notably, these chargers boast a smaller footprint, simplifying and reducing the cost of installation. They are equipped with advanced features such as an AI-driven remote management system, high operational efficiency, and integrated ambient lighting, all aimed at enhancing the customer charging experience.
Charging infrastructure remains a critical component in the broader adoption of EVs. As such, numerous companies are investing in the development of improved batteries and chargers to support this transition. Exicom’s latest innovation aligns with this trend, aiming to meet the increasing demand for reliable and efficient EV charging solutions.
Following the announcement, Exicom’s stock saw a significant uptick. At 12:59 PM on May 14, the company’s stock was trading at Rs 271.75 on the BSE, reflecting a 6.59 percent increase from the previous close.
Exicom has been a pioneer in the EV charging sector. As of March 31, 2023, the company held a substantial market share, with 60 percent in the residential segment and 25 percent in the public charging segment. It has deployed over 35,000 EV chargers across 400 locations in India, demonstrating its expansive reach and commitment to building robust charging infrastructure.
The new chargers are designed to withstand India’s challenging climate and electrical conditions, making them resilient to extreme temperatures and common grid fluctuations. This adaptability ensures their reliability and efficiency across diverse environments.
The global market for DC fast charging is poised for significant growth, with an expected compound annual growth rate (CAGR) of 37.6 percent from 2020 to 2025, according to a report by MarketsandMarkets. This growth is driven by the rising adoption of EVs, government initiatives to enhance charging infrastructure, and continuous advancements in fast charging technology.
Expanding its footprint beyond India, Exicom plans to extend its reach into Southeast Asian markets, including Singapore, Indonesia, and Malaysia, as well as into Europe. This strategic expansion underscores the company’s ambition to be a key player in the global EV charging landscape.
With the launch of the Harmony Gen 1.5 DC fast charger, Exicom reinforces its commitment to innovation and leadership in the EV charging industry, contributing significantly to the evolution of electric mobility in India and beyond.
