Exicom Tele-Systems announced on August 19, 2026 that it has begun manufacturing liquid-cooled AC and DC power modules for EV chargers at its Hyderabad plant, becoming the first Indian company to produce this class of power electronics for global markets. The company said it has already started exporting the India-made modules to its own charger-manufacturing operations in the United States, where they now power next-generation DC fast chargers sold under the Tritium brand. The launch builds on Exicom's 2024 acquisition of Tritium's business and assets.
What Happened
Exicom Tele-Systems Limited (BSE: 544133, NSE: EXICOM), one of India's leading EV charging and critical power companies, confirmed the start of production for advanced liquid-cooled AC and DC power modules at its Hyderabad Smart Manufacturing Facility. According to the company, this makes it the first manufacturer in India to produce liquid-cooled power electronics of this kind for global markets.
Anshuman Divyanshu, CEO of Exicom's EVSE business, told Autocar Professional that the shift from development to production has taken close to two years and represented an investment of about $3.5 million. Engineering and validation work involved Exicom teams spread across India, Brisbane, and the United States, though final manufacturing is done entirely in Hyderabad.
Shipments have already begun. Divyanshu said the Hyderabad-made modules are now powering rectifiers used in Tritium-branded next-generation DC fast chargers in the US market.
Key Highlights
- First India-manufactured liquid-cooled AC and DC power modules for EV chargers, aimed at global markets
- Produced at Exicom's Hyderabad Smart Manufacturing Facility
- Exports to the US have already started
- Modules can reach efficiency of up to 99%, compared with roughly 95 to 96 percent for conventional air-cooled modules
- Built on silicon carbide-based power electronics
- Bidirectional design, opening a path toward vehicle-to-grid (V2G) applications
- 10-year warranty offered, versus roughly two years typical for air-cooled modules
- Nearly two years and about $3.5 million invested in developing the technology
- Traces back to Exicom's 2024 acquisition of Tritium's business and assets
Why It Matters
The announcement positions Hyderabad as a genuine export base for advanced power electronics rather than only a site for assembling equipment for the domestic market. For Exicom, it is a way to differentiate itself from other charger manufacturers by owning technology rather than sourcing modules from outside suppliers.
It also reflects a broader shift in the charging industry. As electric vehicles move toward higher charging currents, especially in commercial and heavy-duty segments, conventional air-cooled electronics face physical limits. Liquid cooling gives manufacturers a way to pack more power into a smaller footprint without the performance drop-off that heat can cause.
For India specifically, the news matters less as an immediate domestic product shift and more as a signal of manufacturing capability. Divyanshu was direct about this: liquid cooling will stay a small share of India's own charger market for now, with adoption expected to grow only as higher-power vehicles reach Indian roads over the next two to three years.
Also Read: India Crosses 52,700 Public EV Charging Stations: Here's What It Means for EV Owners
Important Details
The table below summarizes how the new liquid-cooled modules compare with the conventional air-cooled modules still standard in most EV chargers today.
| Attribute | Liquid-cooled modules | Conventional air-cooled modules |
| Peak efficiency | Up to 99% | Around 95-96% |
| Warranty offered | 10 years | Around 2 years, typically |
| Bill-of-materials cost | Roughly double, at current volumes | Baseline |
| Estimated lifetime cost | Around 25-30% lower total cost of ownership | Baseline |
| Performance in high heat | Maintains output near 45 degrees Celsius ambient | Can derate (reduce power) as temperatures rise |
| Best suited for | High-current DC fast charging, Megawatt Charging System (MCS) use cases, V2G-ready systems | General-purpose AC and DC charging |
Exicom says the higher upfront cost of liquid-cooled modules is expected to narrow as production volumes increase from the Hyderabad line.
What This Means for the EV Charging Industry
For charge point operators and automakers overseas, particularly in the US and Europe, the new modules offer a way to run high-power chargers more reliably in both hot and cold climates, backed by a warranty roughly five times longer than the industry norm for air-cooled hardware.
For the Indian market, the near-term effect is limited. Divyanshu estimated that over the next two years, close to 95 percent of India's charging infrastructure will remain air-cooled, with liquid cooling accounting for only around 5 percent. That balance is expected to shift as EVs capable of accepting higher charging currents become more common domestically.
The same power-electronics platform is not limited to EV chargers. Exicom is already piloting the technology in solar inverters for customers in the US, suggesting the company sees it as a reusable building block across its wider power-electronics business rather than a one-off charger feature.
For now, Exicom is keeping the technology exclusive to its own products. Divyanshu described it as the company's own intellectual property and said it would remain limited to Exicom's lineup for the immediate future, while leaving open the possibility of licensing it to other manufacturers later.
Industry Context
Exicom's access to this technology stems from its 2024 acquisition of the business and assets of Tritium, an Australian DC fast-charging company. Following that deal, Exicom's teams developed a next-generation set of liquid-cooled AC-DC and DC-DC modules, engineered for manufacture in India and sold under Tritium's TRI-FLEX product line.
The modules are now produced at Exicom's integrated Hyderabad plant, which the company inaugurated in March 2026. That facility represented an investment of roughly ₹216 crore, spans 18.4 acres with about 280,000 square feet of built-up area, and was designed around Industry 4.0 principles, including automation, robotics, and digital traceability. It includes an ISO 8 cleanroom for precision power-electronics work, expanded Exicom's production capacity by 2.5 times in its first phase, and created more than 750 local jobs. The plant holds IATF 16949, ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications, and Exicom has said it plans to build India's first EV charger interoperability testing center on-site.
Exicom itself was founded in 1994 and operates two main business lines: EV charging solutions and critical power systems for telecom networks. The company listed on Indian stock exchanges in March 2024. Its most recent reported financials show revenue of around ₹1,277 crore and a net loss of about ₹265 crore, alongside a market capitalization of roughly ₹2,038 crore. The company has also said it recently reached consolidated EBITDA breakeven, crediting the expanded Hyderabad capacity as a contributing factor.
What's Expected Next
Exicom expects export volumes from Hyderabad to increase over the coming year, which it says should help bring down the current cost premium of liquid-cooled modules relative to air-cooled alternatives. The company is positioning Hyderabad as a production base serving both its international and domestic power-electronics business going forward.
Domestically, adoption of liquid-cooled charging is expected to remain limited in the short term but grow over the next two to three years as higher-power EVs enter the Indian market. The bidirectional design of the modules also sets up potential future use in vehicle-to-grid systems, though that will depend on how India's electricity regulations and grid infrastructure evolve to support two-way power flow.
The technology is also expected to extend into Megawatt Charging System (MCS) applications, an emerging standard aimed at fast-charging heavy-duty commercial electric vehicles, an area where Divyanshu said liquid cooling becomes necessary once charging currents move beyond roughly 500 amps.
Conclusion
Exicom's move marks a notable milestone for India's power-electronics manufacturing base, even if the immediate commercial impact is felt more in export markets than at home. The company has translated a 2024 acquisition into a working, India-made product now shipping to the US, while betting that India's own charging market will eventually need the same technology as EVs here move to faster charging speeds. Whether that domestic shift happens on the two-to-three-year timeline Exicom expects will be one of the more interesting threads to watch in India's EV infrastructure buildout.
