Exicom Aims for 50% Revenue from EV Chargers by 2030
ECONOMY & POLICY

Exicom Aims for 50% Revenue from EV Chargers by 2030

India’s Exicom Tele-Systems, a leading supplier for automakers like Mahindra & Mahindra and MG Motor, projects its electric vehicle (EV) charger business will contribute half of its annual revenue by 2030, according to CEO Anant Nahata.

With India accelerating its clean energy transition by lowering import taxes on certain EVs and allocating substantial incentives for local EV and component manufacturing, Exicom is capitalizing on the surging demand. Currently, six out of ten e-cars sold in India are bundled with Exicom’s chargers.

In fiscal 2024, the EV charger segment generated 2.43 billion rupees (approximately $28.7 million), accounting for 25% of the company’s total revenue. Exicom plans to double this by 2030, supported by India’s EV market growth rate of 30%-50% annually.

To meet this target, the company will begin EV charger production at a new facility in Hyderabad next year, more than quadrupling its current production capacity. Additionally, Exicom is eyeing international markets, including Southeast Asia, Europe, and the United States, to expand its customer base of EV makers and charging operators.

Earlier this year, Exicom announced its acquisition of Tritium, an Australian EV charger manufacturer with a facility in Tennessee, U.S. This acquisition bolsters Exicom’s production and market presence.

Nahata highlighted that the company is exploring “organic and inorganic ways of growth” as part of its long-term strategy to cement its leadership in the global EV charging ecosystem.

India’s Exicom Tele-Systems, a leading supplier for automakers like Mahindra & Mahindra and MG Motor, projects its electric vehicle (EV) charger business will contribute half of its annual revenue by 2030, according to CEO Anant Nahata. With India accelerating its clean energy transition by lowering import taxes on certain EVs and allocating substantial incentives for local EV and component manufacturing, Exicom is capitalizing on the surging demand. Currently, six out of ten e-cars sold in India are bundled with Exicom’s chargers. In fiscal 2024, the EV charger segment generated 2.43 billion rupees (approximately $28.7 million), accounting for 25% of the company’s total revenue. Exicom plans to double this by 2030, supported by India’s EV market growth rate of 30%-50% annually. To meet this target, the company will begin EV charger production at a new facility in Hyderabad next year, more than quadrupling its current production capacity. Additionally, Exicom is eyeing international markets, including Southeast Asia, Europe, and the United States, to expand its customer base of EV makers and charging operators. Earlier this year, Exicom announced its acquisition of Tritium, an Australian EV charger manufacturer with a facility in Tennessee, U.S. This acquisition bolsters Exicom’s production and market presence. Nahata highlighted that the company is exploring “organic and inorganic ways of growth” as part of its long-term strategy to cement its leadership in the global EV charging ecosystem.

Next Story
Real Estate

Dharavi Rising

Dharavi, Asia’s largest informal settlement, stands on the cusp of a historic transformation. With an ambitious urban renewal project finally taking shape, millions of residents are looking ahead with hope. But delivering a project of this scale brings immense challenges – from land acquisition to rehabilitate ineligible residents outside Dharavi and rehabilitation to infrastructure development. It also requires balancing commercial goals with deep-rooted social impact. At the helm is SVR Srinivas, IAS, CEO & Officer on Special Duty, Dharavi Redevelopment Project (DRP), Government..

Next Story
Real Estate

MLDL Records 20.4% Growth in Pre-Sales

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced its financial results for the quarter ended March 31, 2025. In line with INDAS 115, the company recognises revenues using the completion of contract method. Key highlights FY25: Consolidated sales (Residential and IC&IC) of Rs 32.99 billion. Gross development value (GDV) additions in FY25 were Rs 1.81 trillion compared to Rs 440 billion in FY24 (~4x growth). Residential pre-sales of Rs 28.04 billion in FY25, reflecting 20.4% growth o..

Next Story
Infrastructure Transport

UCSL Delivers India's First Green Cargo Vessel to Norway

In a landmark achievement for Indian shipbuilding and the Atma Nirbhar Bharat initiative, Udupi Cochin Shipyard Limited (UCSL), a subsidiary of Cochin Shipyard Limited (CSL), has delivered the first of six next-generation green cargo vessels to Norway-based Wilson Ship Management AS, Europe’s largest short-sea shipping operator. The 3,800 DWT vessel, named Wilson Eco 1, was handed over during a ceremony at New Mangalore Port. The delivery is part of a Rs 5.06 billion project supported by Norway’s green maritime funding programme, marking India's entry into the European eco-friendly ca..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?