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Australian electric vehicle charging equipment manufacturer Tritium, which had pivoted to the US market, has declared itself insolvent. Troubled Tritium, in a filing on April 18, 2024 with the US Securities and Exchange Commission , has called for an administrator to be appointed.
It said the move aligned with its plans to be profitable in 2024, but by this point, its share price was on a downward slide. One investor, Brian Flannery, told The Australian Financial Review at the time that the company had left the factory closure too late. “The current directors have let it go too far and watched the margins disappear,” Mr Flannery told the AFR. “They should have bitten the bullet and moved to the United States earlier and kept an R&D centre in Brisbane.
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