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Exicom Sees EV Growth: Auto Brands Boost Business

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By Rediff Money Desk, New Delhi   Jan 21, 2025 17:54

Exicom TeleSystems, an EV charging solutions provider, sees a surge in business due to the growing EV market and expansion of electric vehicle portfolios by major brands like Tata, Mahindra, and Maruti Suzuki.
Exicom Sees EV Growth: Auto Brands Boost Business
New Delhi, Jan 21 (PTI) Electric vehicle charging solutions maker Exicom TeleSystems sees a boost to its business from the expansion in EV portfolios by major brands and uptake of the technology in overseas markets as well, a top official of the company said.

While speaking at the Bharat Mobility International Expo, Exicom managing director Anant Nahata told PTI that the company is on expansion spree and expects its third EV charger manufacturing unit in Hyderabad to become operational within four months.

He said that electric mobility has seen huge success in India, but in terms of cars, it is still between 3-4 per cent penetration.

"As we have seen at the Bharat Mobility Show, all the big brands, whether it's Tata, Mahindra, Maruti Suzuki, or a host of foreign brands, have launched electric vehicles for India. We expect this penetration to rise much more rapidly in the next few years compared to the past. This growth creates significant opportunities for all the companies in the electric vehicle ecosystem, including Exicom," Nahata said.

He said that the main growth driver of the company's business will be consumer adoption and the expanding electric vehicle market.

The company at the country's biggest automobile show launched an integrated solution, Harmony Boost, in the company has combined solar power, grid input, an intelligent Battery Energy Storage System (BESS) and multiple dispenser units (up to 400kW) to make it a greener and faster EV charging solution.

Exicom claims to have about 60 per cent share in home charging solution and 25 per cent in DC fast chargers-- which are installed outdoors.

"We are present in both home charging or AC charging, as well as fast DC charging, which is also referred to as destination charging. We have introduced new products, in both of these categories and even solutions like battery-assisted and solar-assisted DC fast charging, to enable fast-charging for heavy duty vehicles on highways," Nahata said.

He said that the fast chargers are sporadic across the country where at some charging stations there are only one or two fast chargers and then there are hubs where there may be as many as 50 chargers to charge electric fleets.

"On highways, there is still a gap where people want fast charging, but the grid cannot support it. For all these use cases, we have developed different solutions. The core of our focus is on simple-to-use chargers, ergonomics, an easy user interface, and, above all, reliability. Any downtime means lost revenue and a poor customer experience," Nahata said.

Exicom had recently acquired a US-based DC fast-charging technology company Tritium for USD 37 million, or about Rs 310 crore, that has expanded its presence to about 47 countries.

"We are proud to be the first Indian company to take Indian technology abroad. We are already selling a significant number of chargers in Southeast Asia. Our ambition is to be a global company, and in pursuit of this, we acquired Tritium, one of the world's leading fast charger companies known for its innovative liquid-cooled fast charging technology," Nahata said.

When asked about the company's expansion plan in the pipeline, Nahata said that the company already has two facilities- one in Gurgaon, Delhi NCR, and another in Tennessee, USA.

"We are also building our third and largest plant in Hyderabad, dedicated to manufacturing electric chargers. This facility will be operational in about four months, and we are very excited about it," Nahata said.

As per regulatory filings, Exicom had posted revenue of around Rs 1,038 crore in the 2024 financial year.
Source: PTI
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