Embattled Australian EV charge company Tritium scooped up by Indian giant

AutoExec Summary
Australian EV charging pioneer Tritium, which went into administration four months ago, has been acquired by the Dutch subsidiary of Indian rival Exicom. This acquisition includes Tritium’s facilities in Tennessee and Brisbane, aligning with Exicom’s vision for an emission-free future. Tritium, founded in 2001, became a leading provider of DC chargers with notable backers before facing financial struggles. Former employees cited poor management and product reliability issues. Despite unsuccessful attempts to secure external capital, Tritium’s acquisition by Exicom offers hope for a return to manufacturing and growth in the EV charging market.

Brands mentioned: Tritium, Exicom, BP, Nasdaq