Multibagger EV-charger manufacturing company enters strategic partnership with Hubject; Aims to fuel further growth in India’s booming EV market

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 170.25 per share.

The Indian electric vehicle (EV) market is experiencing explosive growth, with sales nearly doubling last year and expected to rise by another 66% this year. To address the growing need for a seamless charging experience, Hubject, the world's leading EV interoperability platform, has partnered with Exicom Tele-Systems Ltd, India's largest EV charger manufacturer. This collaboration aims to revolutionize EV charging in India through several key initiatives.

Firstly, Hubject will introduce its interchange platform to the Indian market. This user-friendly platform will allow EV drivers to easily locate charging stations, access them, and pay for charging services – all through a single interface. No more juggling multiple memberships or dealing with various payment systems! This streamlines the entire process, making EV charging as convenient as using your mobile phone on different networks. Imagine simply plugging in your car and charging it effortlessly, just like filling up a gas tank.

Secondly, the partnership focuses on implementing Hubject's Plug & Charge platform in India. This next-generation technology eliminates the need for apps or RFID cards altogether. By creating a regional hub for Plug&Charge, Exicom and Hubject will enable fully automated charging. Here's how it works: EV drivers will be able to plug their vehicles into compatible charging stations and initiate charging instantly. Automatic EV-to-charging station authentication takes care of everything behind the scenes, making the process completely seamless and hassle-free. Additionally, this collaboration aims to establish India as a leader in Plug&Charge technology by developing the first-ever regional standard for this system.

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About Hubject

A pioneer in electric vehicle charging, Hubject removes the hassle of powering your electric car. Their e-Roaming platform acts like a universal adapter, connecting different manufacturers, charging stations, and service providers into one giant network. This means you can access over 7,25,000 charging points across 63 countries with ease, no matter what brand of car you drive or which company runs the station. Hubject doesn't just provide access, they're also experts in the eMobility field, advising businesses on launching new EV services and implementing secure charging technologies. Founded by industry leaders, Hubject is a one-stop shop for all your electric vehicle charging needs, working towards a greener future, one charged mile at a time.

About Exicom Tele-Systems Ltd

Exicom, a leading Indian manufacturer of EV charging and critical power solutions, is driving the country's shift towards sustainable transportation. They offer a comprehensive range of AC and DC chargers for homes, workplaces, and public spaces, all known for their durability in various climates. Beyond EV, Exicom's critical power solutions ensure the uninterrupted operation of communication networks by providing reliable backup power for telecom infrastructure. Their expertise extends across India, Southeast Asia, Europe, and the Middle East, with over 70,000 chargers installed globally, solidifying their position at the forefront of the global EV charging revolution.

Today, shares of Exicom Tele-Systems Ltd surged 6.77 per cent to Rs 351.65 per share with an intraday high of Rs 361.60 and an intraday low of Rs 324.25 from its previous closing of Rs 329.35. The stock also made a fresh new 52-week high of Rs 361.60 per share. The company has a market cap of over Rs 4,200 crore. The shares of the company have an ROE of 17 per cent and an ROCE of 25 per cent. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 170.25 per share. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.