Australia’s Tritium DCFC (NASDAQ: DCFC) has officially announced plans to expand its footprint of American manufacturing with a new facility in Lebanon, Tennessee that will house up to six production lines for the company’s DC fast chargers. The facility will supply 500 additional jobs to the area and will help expand the United States’ infrastructure of electric vehicle charging stations as the industry continues to saturate with new competitors.
President Joe Biden, fresh off of saying the word “Tesla” for the first time during his presidency, announced the Tritium plant with CEO Jane Hunter.
“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,” Hunter said. “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.”
The expansion of the electric vehicle charging network is crucial for the overall adoption to EVs. As gas stations are in plentiful numbers due to the use of combustion engine vehicles, EV charging points are now becoming more popular. Tesla holds the largest Supercharging network in the country, but it is only available to Tesla vehicles, at least for now. However, there are plenty of other companies that offer EV charging stations, including Electrify America, which was recently named as the country’s best charging infrastructure.
The Biden Administration’s Infrastructure Investment Jobs Act, also referred to as the Bipartisan Infrastructure Law,” is expected to provide up to $7.5 billion in investments for the implementation of 500,000 EV chargers placed across highway corridors throughout the country. The network will enable long-distance travel on highways, but also short-distance treks for local communities. The goal is to provide more convenient charging options to EV owners everywhere.
For Tritium’s newest plant in Tennessee, production is expected to begin sometime in Q3 2022. Tritium has seen revenue expansion in the United States, which likely gave the company the green light to expand. However, Tritium holds charging stations in 41 countries and plans to expand its European production capacity sometime next year.
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