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Tritium Stock Soars On Multi-Year Contract With BP

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  • Tritium Dcfc Ltd (NASDAQ: DCFC) entered into a multi-year contract with BP plc (NYSE: BP) for the supply of chargers and related services to support bp's global EV charging network. Financial terms were not disclosed.

  • The arrangement marks a significant shift in the strategic nature of the relationship between the two companies, with an initial order of slightly under 1,000 chargers for the U.K., Australia, and New Zealand markets.

  • "The electrification of transportation is entering an incredible era when major companies like bp are providing critical support to transition the world to cleaner more reliable transportation," said Tritium CEO Jane Hunter.

  • Price Action: DCFC shares are trading higher by 11.8% at $9.53 and BP higher by 0.42% at $31.42 during the premarket session on Monday.

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