An Australian manufacturer of electric vehicle (EV) fast-chargers based in Brisbane has announced a merger that will see the company listed on the NASDAQ for US$1.4 billion. Tritium already services a worldwide market across 41 countries and is banking on the continued expansion of the electric passenger vehicle market with expectations of 20 percent growth annually. The company also expects EV hardware sales to grow 25 percent per year, particularly across the United States and Europe. The deal comes amid U.S. President Joe Biden’s $1.9 trillion infrastructure plan, which includes significant investment in the renewable energy sector. “The accelerated electrification of the transport sector globally is now underway and has extraordinary implications beyond the benefits to individual consumers,” Tritium CEO Jane Hunter said in an investor announcement (pdf). “We plan to expand to three global manufacturing facilities, expedite product development, grow our global sales and service operations teams, and so …
Australian Electric Car Charging Company to List for Over $1.4B on NASDAQ
May 27, 2021
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