Tritium a global leader in direct current (“DC”) fast chargers for EVs, has announced plans for expansion of its American footprint with a new manufacturing facility in Lebanon, Tennessee.
The location is expected to house up to six production lines for Tritium’s DC fast chargers, including the Company’s award-winning RTM and all-new PKM150 models. The new facility is also anticipated to bring more than 500 jobs to the region over the next five years. All chargers produced at the facility are expected to comply with applicable Buy America Act provisions under Federal Highway Administration (“FHWA”) requirements for domestic sourcing.
In a Facebook post, the company shared CEO Jane Hunter and President Biden will discuss the new US manufacturing facility in Tennessee and how the Infrastructure Investment and Jobs Act will help encourage the electrification of transportation across the country at 12:30 central on Tuesday, Feb 8. Watch it here.
The Infrastructure Investment and Jobs Act (“Bipartisan Infrastructure Law”) is expected to provide $7.5 billion of investment for deploying a network of 500,000 EV chargers along highway corridors in the United States. This network is intended to facilitate long-distance travel, as well as shorter distance travel within communities, to provide convenient charging options and encourage the electrification of transportation across the country.
“I welcome Tritium to Tennessee and thank the company for its commitment to create more than 500 new jobs in Wilson County,” said Tennessee Governor Bill Lee. “Our state’s highly-skilled workforce and position as a leader in the EV industry continue to attract companies like Tritium to Tennessee.
Tritium’s U.S. expansion is part of a global trend bringing convenient and fast EV charging solutions to the masses. Production is expected to start at the Tennessee facility sometime in the third quarter of 2022, and is anticipated to help the Company facilitate distribution of its products throughout the United States, where the Company has recently seen revenue expansion as a proportion of its overall revenue mix, and expand its global impact beyond the more than 3.6 million high-power charging sessions across 41 countries that it has already provided. Based on preliminary revenue figures for the twelve months ended December 31, 2021, the United States and Europe accounted for approximately 43% and 43% of the Company’s revenue, compared to approximately 23% and 68%, respectively, for the twelve months ended June 30, 2021. The Company expects to announce expansion of its European manufacturing capacity, through expansion of existing facilities or establishment of new facilities, in 2023.
“Tritium’s investment in a U.S.-based, cutting-edge facility for manufacturing is part of our strong push toward global growth in support of the e-mobility industry,” said Tritium CEO Jane Hunter. “We are thrilled to work with the U.S. Federal government and the State of Tennessee on this initiative. With the help of the hard-working residents of Tennessee, we expect to double or even triple our charger production capacity to further our product distribution throughout the United States.”
Last month, Tritium announced it had completed its previously announced business combination with Decarbonization Plus Acquisition Corporation II. Tritium’s ordinary shares and warrants commenced trading on the Nasdaq on January 14, 2022, under the ticker symbols “DCFC” and “DCFCW,” respectively.
