Shares of Exicom Tele Systems Ltd hit a 5% upper circuit on 8 January after the company announced signing a Memorandum of Understanding (MoU) with Mufin Green Infra Limited, a provider of turnkey project solutions for EV charging infrastructure. 

Installing EV chargers and setting up infrastructure for EV charging are two aspects of the MoU’s development of EV charging solutions. The alliance will focus on customers such as Charge Point Operators, bus operators, state utilities, and other end users in order to accelerate EV adoption with charging solutions. 
 
Mufin Green Infra Limited, a branch of Mufin Green Finance, a well-known supplier of green finance solutions in India, provides EV charging infrastructure. 

Under the terms of the Memorandum of Understanding, Exicom will manufacture and provide EV charging hardware in compliance with industry standards and future-ready needs to support the EV ecosystem. The hardware will be loaded with Exicom’s proprietary software, which puts efficiency and ease first. Exicom will provide technical support, maintenance services, warranty coverage, and digital solutions. 
 
In its regulatory filing, the company said, “Both Exicom and Mufin Green Infra Limited will leverage their present and new customers for the success of the collaboration. Furthermore, as a strategic partner of Exicom, Mufin Green Infra Limited will be installing EV charging stations & Buses /Fleet charging hubs as per customer requirements. They will also onboard new B2B customers to develop state of the art EV charging infrastructure while ensuring compliance with regulatory guidelines for environmental, electrical and safety requirements.”

Throughout the whole EV charger value chain, Exicom, an Indian producer of EV charging and critical power solutions, offers a broad selection of products in both the AC and DC charger categories.

At 1:23 pm, the shares of Exicom Tele shares were locked 5% higher at Rs 250.09 on NSE.

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