Tritium went public in 2021 at $10. It now trades for $0.20/share.
While the company has warned it may be forced to close its Australian factory and move its headquarters overseas to ensure its financial survival, it is understood the request to the Palaszczuk government is unlikely to be successful…
“To keep sovereign manufacturing capability, Australia will have to put money and legislation into it because just like [funding under America’s Inflation Reduction Act] that’s the only reason people are into factories over there.”…
Tritium has its headquarters and a factory in Brisbane but last year opened a factory in Tennessee in the United States to help tap into the lucrative North American market.
In a statement issued overnight to the Nasdaq stock exchange in New York, where it has been struggling to retain its listing because of a collapsing share price, the company said Tritium DCFC and three of its Australian subsidiaries were either insolvent or likely to become insolvent…
On the top of mind for customers and consumers will be the maintenance of the public DCFC charging network, and the fate of the several hundred workers at the company’s Brisbane headquarters…
It seized a more than 20% share of the global market, a majority share of non-Tesla charging infrastructure in Australia and had an enormously successful listing on the Nasdaq in early 2022 which valued the company at up to $2 billion.