Lite-On Technology Corporation (TWSE:2301) is believed to be in negotiations with embattled Brisbane EV fast-charging company Tritium DCFC Limited (NasdaqGM:DCFC) for a strategic stake that may underpin its financial future. Lite-On Technology Corporation is reportedly considering offering a financial lifeline to Tritium which has racked up almost $190 million in losses in the past year to expand its US operations. However, there are doubts Lite-On, which has a market capitalisation of $12 billion, will be the white knight that Tritium needs with negotiations apparently stalling.

Sources say there are other potential key stakeholders eyeing the business. Tritium did not return emails. The Nasdaq-listed Tritium, which includes richlister Trevor St Baker with a 22% stake among its major shareholders, unsuccessfully approached the Queensland government for a $90 million equity stake tied to guarantees to keep its Brisbane factory open.

Mr. St Baker told The Australian last week that an announcement on further funding for the company would be revealed soon and he was confident Tritium would survive. He declined to give further details at the time. Mr. St Baker, who was an early investor in Tritium and has provided at least 10 rounds of funding in the past decade, noted there "were a lot of loss leaders in the market".

He did not return phone calls on 17 November 2023. Billionaire Brian Flannery, who owns about 5% of Tritium, said he would not be investing any more money into the company after declaring its Brisbane factory, that employs about 400 people, could never make any money given high energy and labour costs in Australia.