Exicom is India’s largest EV station producer and the brand new proprietor of Tritium, which it just lately took over. In 2023, Exicom produced about 40,000 AC and a couple of,000 DC chargers, and it’s constructing a brand new manufacturing unit to extend the annual capability to 180,000 AC and 30,000 DC chargers. “So we’re large,” Priyank Agarwal, Vice President of Technique and Enterprise Growth at Exicom.
And the corporate is trying to get even larger. “Within the final 18 months, now we have been trying to increase past our house market,” Agarwal explains. “After which Tritium got here alongside, and it simply suits superbly.”
Exicom introduced the takeover in early August. It additionally contains Tritium’s manufacturing unit within the US state of Tennessee and the event centre in Brisbane, Australia. Tritium had closed its manufacturing facility there following the beginning of monetary points in late 2023. “We now see ourselves as stepping onto the world stage and being a worldwide supplier of options and actually being one of many high three gamers within the subsequent three years.”
Exicom is primarily involved in Tritium’s know-how. It makes use of liquid cooling for its chargers, whereas Exicom has to this point opted for air cooling. “We consider, with the identical of the liabilities gone, Exicom plus Tritium can resurrect Tritium to what we’re calling Tritium 2.0.”
The Indian producer just lately signed one other deal – not with one other producer or possible customer, however with a roaming supplier, specifically with Hubject. In keeping with Agarwal, “for a producer, this deal doesn’t make any extra sense.”
“This deal is particularly for the Indian market. We’re a giant participant on this market, and want it to develop even sooner. A partnership with Hubject helps us ship that. […] So this partnership is extra about increasing the marketplace for India, not likely for us as a {hardware} producer.”
In comparison with Europe, India’s EV charging market continues to be “a couple of years behind.” However Agarwal sees it catching up, as the federal government is implemeting EV pleasant insurance policies and fleets are opting to go electrical, as a result of it’s extra economical. “By 2030, we’re projecting greater than two million [electric] four-wheelers on the street,” he says, including that the variety of charging station will doubtless develop twelvefold, reaching 100,000 models by the tip of the last decade.
Furthermore, being behind isn’t all the time a nasty factor. “Being right here in Europe permits us to be taught the teachings from right here after which apply them to India,” says Agawall. As an illustration, he embraces the emphasis on reliability “and fixing stuff shortly.” That additionally contains providing distant diagnostics for chargers, one thing Exicom has now carried out. “So when our technician goes to the charger, he doesn’t go for diagnostics however to repair it.”
That additionally applies to rules regarding, for instance, security and plug-and-charge. The latter isn’t (but) regulated in India, however Agarwal says that it’s helpful to adapt to requirements that apply elsewhere to “have it within the portfolio” and to be able to introduce it on the house market when it’s adopted there.