Italian powertrain maker Mavel to equip new Nio EVs

Nio Capital, the investment arm of the Chinese carmaker, takes a stake in the Italian drive specialist Mavel Powertrain. Mavel counts McLaren and Aston Martin among its clients and will soon supply next-gen Nio EVs with new drives.

Nio Capital has taken the lead in Mavel’s Series A funding round that is expected to bring tens of millions of dollars, Nio said, adding that the Italian company will be a supplier of core components for Nio’s next-generation platform.

Founded in 1999, Mavel’s core team comprises managers with more than 20 years of experience in the automotive industry, including at JLR, Mercedes-Benz, BMW, SAIC and BAIC.

Mavel comes from a combination of the Italian words Macchina (machine) and Veloci (high speed), resulting in “high-speed machine”. Apart from Aston Martin, McLaren, and now Nio, Mavel also works with Ducati, Energica and Norton.

The core electric drive system consists of the motor, motor controller and transmission system, and is the heart of a new energy vehicle, writes Nio. The statement also mentions several patented technologies by Mavel with “world-leading electric drive performance and a strong first-mover advantage with extremely high technical barriers”.

As for the works for the company’s upcoming electric cars, “Mavel’s propulsion systems feature innovative structural and engineering designs that provide significant performance advantages in terms of efficiency, speed, and power density,” said Ian Zhu, a managing partner of Nio Capital. Nio does not get more specific.

However, the company points out future challenges the new cooperation may address. Nio mentions the needs of downstream automakers, high speed and miniaturization as development tasks for electric drive manufacturers.

In addition to its core business Nio, the company is planning two new brands for cheaper electric cars, ALPS and Firefly. Each brand may run under an independent management and R&D team, and Nio has been recruiting.

cnevpost.com, niocapital.com (PI in Chinese)