Tritium Unveils Autocharge Software Capability for RTM and PKM Chargers; Partner Lynkwell Leads on Implementation of Innovative Feature
- Autocharge software capability enhances the end-to-end charging experience for EV drivers and fleet operators.
- The technology simplifies the charging process and removes the need for a credit card reader, making it convenient for operators of busy sites with high utilization.
- The activation of Autocharge serves as one of Tritium’s latest software updates, complementing the company’s Plug and Charge capabilities, providing customers with operating models that suit their specific business needs and preferences.
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Insights
The introduction of Autocharge by Tritium DCFC Limited represents a significant step in enhancing the user experience for EV drivers, potentially impacting the adoption rate of electric vehicles. The ease of use provided by Autocharge could serve as a competitive advantage, attracting more customers to Tritium's charging solutions. This is particularly relevant as the EV market continues to grow and the demand for user-friendly charging infrastructure becomes more pronounced. As a result, Tritium's market share and revenue could see a positive trajectory, especially if the technology is adopted widely by network operators and appreciated by EV drivers.
From an industry perspective, the move towards seamless payment options is a trend that could set a new standard for charging infrastructure companies. If Tritium's implementation proves successful, it may prompt competitors to accelerate the development of similar technologies, thereby increasing the overall pace of innovation within the sector. This could lead to a more rapid expansion of EV infrastructure, which is critical for supporting the growth of the EV market.
Tritium's launch of Autocharge could be financially significant due to the potential for increased sales and partnerships. The collaboration with Lynkwell demonstrates Tritium's capability to integrate its technology with enterprise fleet companies, which could lead to further B2B opportunities. The ability to simplify the charging process and remove the need for a credit card reader may reduce operational costs for charging station operators, making Tritium's chargers more appealing from a cost-efficiency standpoint.
Investors should monitor the adoption rate of Autocharge and its impact on Tritium's financial performance. Increased customer satisfaction and operational efficiencies could translate into higher sales volumes and potentially improve profit margins. However, investors should also consider the costs associated with the development and deployment of this new technology and how it may affect short-term profitability.
The integration of Autocharge into Tritium's software offerings aligns with the broader automotive industry's shift towards enhancing the customer experience with technology. As EV adoption grows, the ability to offer a frictionless and secure charging experience becomes a critical differentiator. Autocharge's compatibility with the ISO 15118 standard ensures a high level of data security, which is paramount as cybersecurity becomes an increasing concern in the automotive sector.
The strategic partnership with Lynkwell and the focus on large fleet operators suggest that Tritium is targeting a segment of the market that is poised for growth. Fleet electrification is a key area within the transition to cleaner transportation and technologies that streamline the charging process could accelerate this shift. The long-term implications for the automotive industry include potentially higher EV adoption rates, driven by improved infrastructure and user experience.
Update complements Tritium’s Plug and Charge offering to further elevate seamless end-to-end charging experience for EV drivers and fleet operators
BRISBANE, Australia, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), today announced the company is now offering Autocharge as a software capability on its RTM and PKM charger models. This launch allows Tritium to further provide its customers and EV drivers with convenient and efficient options for a seamless end-to-end EV charging experience.
“Tritium continues to be a leader among the charger OEMs offering seamless payment capabilities to drivers,” said Glen Bethel, Chief Technology Officer at Tritium. “Integrating Autocharge into our software offerings is the latest example of how the company remains on the leading edge of rapidly evolving industry trends, to provide drivers with a simple and convenient charging experience. By enabling our chargers to offer drivers seamless payment options, we hope to encourage the adoption of more EVs worldwide.”
Autocharge is currently available with the latest release software for Tritium’s RTM and PKM chargers. EV drivers with compatible vehicles at charging sites where the system has been implemented by a network operator will be able to start a charging session by simply plugging in their vehicle, without the need to tap or insert a payment card. Drivers love the ease of this capability, which is a feature only available to EV drivers and which cannot be offered to drivers of combustion engine vehicles. It is also very convenient for operators of busy sites with high utilization as it removes one step of the charging process and simplifies technical complexity by removing the need for a credit card reader.
Tritium has launched the first implementation of this software on its chargers in conjunction with its partner Lynkwell, which has activated the technology on its RTM models at several charging sites for enterprise fleet companies. Lynkwell is an energy technology company providing a comprehensive platform of EV charging products and services designed to drive rapid deployment and adoption of clean energy.
“Introducing innovations with partners like Tritium presents an exciting opportunity to enhance the EV customer experience,” said Nick Bordeau, Vice President of Engineering at Lynkwell. “Autocharge allows drivers of personal, commercial, or fleet vehicles to simply plug in and walk away. Benefits like increased ease and efficiency that also leverage telematics compound the value over large fleets and help drive large scale EV adoption.”
This activation serves as one of Tritium’s latest software updates, complementing the company’s Plug and Charge capabilities. Plug and Charge, which Tritium pioneered in the industry, is a certificate-based system built on the ISO 15118 standard. It allows customers to authenticate and charge their vehicles via the charging cable with a higher level of data security. Autocharge offers an alternative approach to vehicle authentication, while maintaining the same level of security as RFID cards. The availability of these two technologies will expand customer access to operating models that suit their specific business needs and preferences.
About Tritium
Founded in 2001, Tritium (NASDAQ: DCFC) 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.
About Lynkwell
Lynkwell is an innovative energy technology company with a mission to transform how the world connects clean, renewable, and sustainable energy solutions with the evolving electric infrastructure. The company provides comprehensive and coordinated products and services for design, planning, funding, financing, installation, and management of electric vehicle (EV) charging stations and provides a white-label offering allowing businesses to create custom-branded EV charging experiences. Since 2016, Lynkwell has facilitated the deployment of thousands of charging stations for public, private, and fleet applications, collaborated on the development and integration of hundreds of equipment and software solutions, and has secured tens of millions of dollars of incentives, grants, and funding awards for its customers. Partners can access one of the largest and most robust catalogs of hardware solutions and software functionality for EV charging infrastructure via the Lynkwell platform. Learn about the next generation of EV charging networks with Lynkwell at https://www.lynkwell.com/.
Forward Looking Statements
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Media Contact
Jack Ulrich
media@tritiumcharging.com
Investor Contact
Cary Segall
ir@tritiumcharging.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b438f397-8199-4209-beb4-0c8066348925
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