eLCV Manufacturer Addax Motors: “Europe is our primary focus”
Addax Motors is Belgium’s only manufacturer of eLCVs. Already present in 12 European countries, the brand is aiming for the big time, thanks to a recent capital injection of €10 million. “Most competitors have a van. We offer a chassis cab, which means you have a completely customisable mount,” CEO Jean-Charles Carrette explains.
In a previous life, Mr Carrette was director of Westlease, a local Belgian vehicle leasing company. “From 2013, we got more and more requests for electric LCVs. Soon, we had about 200 in portfolio. But we noticed that the models on offer did not really match the demand. There were issues of quality and maintenance, and related to the battery. Plus, the brands were really engineering-driven, without an effective after-sales policy.”
So Westlease set up a Flying Doctors-type service, with teams going out to service and repair the eLCVs in portfolio. Sensing a market opportunity, Mr Carrette co-founded Addax in 2016.
Did you manufacture your own vehicles right from the beginning?
“No. We started out working with a former supplier of Ford, which had recently left Belgium. The deal was that they would assemble the vehicle and teach us how to do it ourselves. It took us a long time to set up our first assembly line, because we wanted to maintain a high level of excellence. That former Ford-supplier is still working with Audi and Rolls Royce, to give you an idea. Our first self-assembled vehicles were ready in 2018.”
Do you still only have that same model?
“In fact, we started with two variants of that first model: the Addax MT 10 and MT 15. MT stands for ‘medium truck’, and the figures indicate the battery capacity: 10 kWh or 15 kWh.”
“Meanwhile, we’ve been doing a redesign that’s so thorough that we have an upgraded homologation. For the first version, we have L7, which is the European homologation for quad vehicles. For the second version, we have N1, which is the homologation for most small commercial vehicles on the road in the EU. So this version, we’re calling Addax MT15n.”
What’s its USP?
“The vehicle has a very small footprint yet is very strong. Plus, most competitors have a van. We offer a chassis cab, which means you have a completely customisable mount. Our vehicle can carry about seven cubic metres or one ton, and has an autonomy of about 100 km. Moreover the vehicle is fully 4G connected. This allow us to organise remote diagnostics and pre-emptive maintenance."
How does that capacity fit with the potential size of your market?
“It’s a good fit, because we have identified four niches where we can play a big role. First and most obviously: cities and municipalities – many of which will soon only allow fossil-fuel-free vehicles. Second: industrial and vacationing sites. Third: everything related to last-mile delivery. And finally, postal and parcel delivery companies. Studies confirm that in Europe, these four segments together will represent around 17,000 vehicles a year by 2025.”
You have a presence in 12 European countries. How does that work?
“We work with one or more distributors per country. We don’t have distributors who only do Addax – our niches are not big enough for that. Typically, our distributors are active in green fleets and electric mobility. They import, market and – very importantly – maintain the vehicles.”
You’ve recently had a capital injection of €10 million, including from Belgium’s Federal Participation and Investment Company SFPI-FMPI. What’s that going to be used for?
“First off, it will allow us to strengthen and expand our commercial distribution and marketing. Secondly, it will allow us to develop our second model, which we would like to launch in 2023, and which will be a bit bigger than this one.”
“Equally important is the trust put in us by the Federal Participation Company. This means they believe in us, which adds to our credibility with our business partners. This will help us expand in Europe, which will remain our primary focus.”
Image copyright: Addax Motors
