Anderton Castings to Invest $25M to Support Electric Vehicle Startups

He took into account only 50-70% of the volumes envisaged by his clients for the next three years. An important precaution when trading mostly startups whose growth is necessarily uncertain. And yet the growth in power announced by Richard Musi, president of Loire-based automotive supplier Anderton Castings, is impressive: turnover of 1.9 million euros in 2021, 4 million in 2022 with 100 employees at the end of the year (88 currently). , 17 million in 2023 and 50 million in 2025 (with the workforce nearly doubling from today).

Faced with this expected rapid growth, an equally massive investment: 26 million euros in total by 2025 to double the production area of ​​the building (5000 m²), purchase seven new multi-axis machining centers, install two assembly and finishing centers, etc. In addition to this plan, the company has already received 800,000 euros from the state recovery plan and the same amount from the region. Of this 26 million, 11 will be borne by Anderton’s customers (particularly specific machines and molds), the rest by Loire. Since its inception in 2017, it has invested through its American shareholder “several tens of millions of euros” establish itself in the electric vehicle market.

Differentiate with Comprehensive Support

Established in 2015 on the ruins of C2FT, handed over at the head of the Commercial Court to an American investor (of French origin) looking for production capacity in Europe readily available to serve the automaker, Anderton Castings made a strategic shift two years later. While C2FT, which already made aluminum safety parts, stalled on a thermal vehicle, Anderton decided to turn to a promising direction: electric and hybrid cars. With the same parts (steering boxes, cross bars, grounding, etc.) and the addition of new technologies to traditional cast/forged ones: low pressure, gravity, machining, etc. “At that time it was still a niche. Promising, yes, but niche”smiles Richard Musi.

Unable to cater for large batches, Anderton Castings quickly signed a first American startup at this stage of the launch, then a second and a third… The industrial SME now has a contract with six start-ups developing innovative electric or hybrid vehicles, rather premium ones. She recently signed a contract with two new start-ups for all link and chassis parts. Programs should start at the end of this year.

To attract these future electric mobility nuggets, a small industrialist managed to set up an in-house design and development office.

“These startups need partners who can supply all the parts for a standard function and who can work with them to design and then quickly produce prototypes, etc. We would not have conquered these markets if we had not invested in design and retained our workforce during time of health crisis.says Richard Musi. “Many new entrants are coming into this electric vehicle market. We are ready… “.

After publishing more or less significant losses (-4.4 million in 2020, a black year and the latest published figure), the president announces positive profitability for 2023. “The key to success lies in the growing power of our customers. When we reach financial balance, we will be able to attract large car manufacturers, but always for small or medium series.”.

Recall that in 2021, 10% of registrations were for electric vehicles in France. By 2030, the number of electric vehicles worldwide is expected to reach at least 145 million, according to the International Energy Agency. In 2020, 3 million electric and plug-in hybrid vehicles were registered.