⌛ Did you miss ProPicks’ 13% gains in May? Subscribe now & catch June’s top AI-picked stocks early.Unlock Stocks

EV charger maker Tritium wins order from Hawaii under federal funding program

Published 07/11/2023, 08:07 AM
Updated 07/11/2023, 12:26 PM
© Reuters. FILE PHOTO: Car chargers at a Tesla Super Charging station are shown in Carlsbad, California, U.S. Sept. 14, 2018.  REUTERS/Mike Blake/File Photo

By Abhirup Roy

SAN FRANCISCO (Reuters) - Tritium DCFC said on Tuesday it had won an order from Hawaii to make high-speed electric vehicle chargers - the first funds to roll out in a federal program meant to blanket the country with charging infrastructure and boost EV adoption.

The U.S. government plans to dole out $5 billion to states over five years as part of the National Electric Vehicle Infrastructure Program (NEVI) to electrify highways and interstates with 500,000 chargers.

Hawaii, which was granted access to $2.6 million in September as part of the first round of funding, is buying 32 150-kilowatt Tritium chargers and 16 power units, the company said.

"These fast chargers are expected to be among the first funded and installed under the NEVI program," Brisbane, Australia-based Tritium said in a statement.

While several states, including Ohio and Texas, are in various stages of seeking proposals from companies, Tritium said Hawaii was using an existing contract with Sustainability Partners, an infrastructure-focused public benefit company to place the order.

Hawaii is estimated to receive a total of over $17.6 million under NEVI.

The federal funding - seen critical to President Joe Biden's plans to tackle climate change and create local jobs - requires companies to offer the U.S. standard Combined Charging System (CCS) in the chargers.

But Hawaii's order comes at a time when several states such as Texas and Washington have said they plan to mandate EV market leader Tesla (NASDAQ:TSLA)'s charging standard along with CCS to be eligible for the funds after major automakers embraced the technology.

© Reuters. FILE PHOTO: A Tritium charging station is seen at a ribbon cutting event for a Revel electric vehicle charging superhub in Brooklyn, New York City, New York, U.S., June 29, 2021. REUTERS/Andrew Kelly

That has sparked a pushback from some charging companies against mandating Tesla's the North American Charging Standard (NACS) for the first round of funding, saying more time was needed to standardize, test, and certify the safety and interoperability of Tesla connectors.

However Tritium, which said it would offer NACS connectors on its chargers by late 2023 or early 2024, supported the move in a letter sent to Texas on Monday and seen by Reuters.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.