Tritium, the Australian-founded electric vehicle (EV) fast-charging solutions provider, is relocating its entire production of fast-charging columns overseas. The company recently inaugurated a production plant in Lebanon, Tennessee, in August 2022, signaling its move away from its Australian base. The US facility, with the capacity to produce up to 30,000 DC chargers annually across six production lines, is deemed sufficient for Tritium's current global demands, having already delivered 14,500 fast chargers to 47 countries.
As part of its strategic restructuring, Tritium plans to shutter its original Brisbane factory while retaining and expanding its over 200-strong research and development team along with the test facility in Brisbane. The company aims to achieve profitability from next year, potentially involving further job cuts to reduce “sales and administration costs.”
Tritium CEO Jane Hunter emphasized the necessity of strategic restructuring to enhance profitability and shareholder value. She stated, “The implementation of this plan, including the closure of the Brisbane factory and consolidating our manufacturing operations in Tennessee, supports the ongoing market competitiveness and positioning of the company as a world leader in its category.”
The decision to shift production to the US aligns with Tritium's strategy to comply with Buy America Build America (BABA) regulations, crucial for participation in the $5 billion National Electric Vehicle Infrastructure (NEVI) Formula Program. This program funds fast chargers at 50-mile intervals along American highways.
Listed on the US technology exchange Nasdaq under the symbol DCFC, Tritium completed its initial public offering (IPO) in January 2022 through a Special Purpose Acquisition Company (SPAC) merger. Despite this shift away from Australian manufacturing, Tritium's CEO, Jane Hunter, emphasized that the transition is in line with the company's plan to achieve profitability in 2024.