| | SEPTEMBER 20249IN FOCUSExicom Tele-systems Limited, India's leading manufacturer of Electric Vehicle (EV) chargers, has announced that its subsidiary Exicom Power Solutions B.V. in the Netherlands, along with other step-down subsidiaries, has entered into a definitive agreement to acquire the business and assets of the Tritium group of companies. Tritium, headquartered in Australia, is a renowned global leader in DC Fast Chargers.With more than 13,000 DC Fast Chargers sold across 47 countries, Tritium is acknowledged as a leading global brand in the industry. Established in 2001, Tritium specializes in designing and manufacturing proprietary hardware and software to produce advanced, reliable liquid-cooled DC Fast Chargers for electric vehicles. Their chargers are crafted to be both visually appealing and durable in harsh environments, with engineering that streamlines installation, ownership, and usage.This landmark acquisition positions Exicom to achieve significant long-term growth and deliver substantial value to its stakeholders. The deal includes Tritium's manufacturing facility in Tennessee, USA, and a top-tier engineering center in Brisbane, Australia, enhancing Exicom's existing presence in Asia. It broadens Exicom's global footprint and reinforces its dedication to research and development, fostering innovation in the expanding EV sector. The integration of Exicom's and Tritium's complementary product portfolios offers an opportunity to address diverse use cases worldwide and advance the adoption of EV infrastructure.BloombergNEF's 'Economic Transition Scenario,' which predicts EV growth based on current techno-economic trends, projects that electric vehicles will account for 45 percent of global passenger vehicle sales by 2030 and 73 percent by 2040.Anant Nahata, CEO of Exicom, said, "This acquisition is in line with Exicom's strategic vision to be a key contributor to the world of tomorrow by enabling an emission-free future for mobility. Exicom and Tritium have complementary sales and product footprint and have each established leadership in their respective regions. We look forward to working with Tritium's employees, customers, partners and other stakeholders to grow the business further and provide faster, more reliable charging experiences to EV users across the globe". EXICOM ACQUIRES TRITIUM TO BOOST GLOBAL EV CHARGING PRESENCE
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