Tritium Celebrates the Opening of its First Global EV Fast Charger Manufacturing Facility in the United States
Tritium's newest DC fast charger manufacturing facility is expected to include up to six production lines, create more than 500 new cleantech jobs over the next five years, and produce up to 30,000 DC fast charger units per year at peak capacity
LEBANON, Tenn., Aug. 23, 2022 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), today celebrates the opening of its new EV fast charger manufacturing facility, and its first US-based EV fast charger manufacturing facility, located in Lebanon, Tennessee. The facility will employ more than 500 Tennesseans over the next five years, helping to build EV charging infrastructure, meet US government goals, and electrify transportation across America and beyond.
Tritium's Tennessee facility will initially produce the company's award-winning RTM fast charger, and is expected to start production on the PKM150 early next year. These advanced DC fast chargers are compatible with all EVs, are compact, reliable, and cost effective, and are expected to fulfill requirements for the recently enacted Inflation Reduction Act (IRA), which provides $370 billion for climate change initiatives to help reduce carbon emissions by roughly 40 percent by 2030. Additionally, Tritium's PKM150 fast charger is expected to meet Federal Highway Administration (FHWA) Buy America Act standards in Q1 2023, making that fast charger an ideal candidate for National Electric Vehicle Infrastructure (NEVI) program funding.
|"The opening of our Tennessee factory is an important milestone for Tritium, for Tennessee and most importantly, for American drivers. As many as 35 million electric vehicles are expected to be in use by 2030 and those vehicles will require more powerful and convenient charging infrastructure," said Tritium CEO Jane Hunter. "It's crucial that America's charging infrastructure is built right here in the US. Americans will rely on it to get to work, to school, to doctor's appointments, and more. It needs to be reliable, and it needs to be able to grow to meet their needs. And when we make chargers here in the US, we reduce supply chain and shipping delays, and we help build the manufacturing ecosystem that will employ more Americans."|
Next year, Tritium is expected to produce its top-of-the-line PKM150 chargers, which launched in December 2021. These chargers mark a significant improvement in EV charging technology, providing customers with flexibility when creating charging sites. Customers can connect up to four PKM150 fast chargers to one power cabinet, saving money on equipment, installation, maintenance, and more. The PKM line of chargers are created with swappable modules saving customers time on easy maintenance and upgradeability, which enables technicians to replace modules in just minutes. This flexibility gives customers the ability to choose between 100kW or 150kW of dual-cable charging station power depending on their business needs.
|"I've worked in manufacturing for more than 30 years and I can truly say that this new facility is world-class. Like our products, we've designed our manufacturing process to be modular and scalable. This design allowed us to bring the Tennessee factory online in five months, which is one of the fastest setup times I've experienced in my career," said Tritium Chief Operating Officer Glen Casey. "Our Tennessee staff are exceptionally well-trained and experienced, and I look forward to continuing to work with them to build the fast charger infrastructure required to electrify global transportation."|
The Tennessee facility was announced in February at a press event at the White House with President Biden, Department of Transportation Secretary Pete Buttigieg, Secretary of Energy Jennifer Granholm, National Climate Advisor Gina McCarthy, Director of Made in America at the Office of Management and Budget Celeste Drake, among others. The Tritium manufacturing facility was highlighted as a key part of the Biden administration's initiative to create clean energy jobs and reduce carbon emissions.
Founded in 2001, Tritium (NASDAQ: DCFC; DCFCW) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium's compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.
For more information, visit tritiumcharging.com
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The Company's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believe," "predict," "potential," "continue," "aim" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company's expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company's control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
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