Electrifying growth: Exicom TeleSystems thrives amidst EV market bloom

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.

Upcoming Manufacturing Unit in Hyderabad

While speaking at the Bharat Mobility International Expo, Exicom managing director Anant Nahata told in an interview that the company is on an 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 percent 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.

Consumer Adoption as Growth Driver

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, which combines 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.

Market Share in Charging Solutions

Exicom claims to have about 60 percent share in home charging solutions and 25 percent 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.

Addressing Fast Charging Gaps

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.

Acquisition of Tritium for Global Expansion

Exicom had recently acquired a US-based DC fast-charging technology company Tritium for $37 million, or about Rs 310 crore, which 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.

Expansion Plans and New Facilities

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.

(Except for the headline, nothing has been changed by All India News Network in the PTI copy.)