NIO Capital revealed its leadership in a Series A financing round for Mavel, an electric drive solutions provider. The funding rounds, encompassing both Series A and Series A+, have amassed substantial investments in the tens of millions of dollars, as disclosed by NIO Capital. This alliance will see Mavel serving as a supplier of essential components for NIO’s upcoming platform.
Established in Italy back in 1999, Mavel was conceived by a group of European scientists, according to information from NIO Capital. The name “Mavel” is a fusion of the Italian words “Macchina” (machine) and “Veloci” (high speed), collectively embodying the concept of a “high-speed machine.”
Mavel is steadfast in its commitment to providing customers with electric drive products that excel in performance, cost-effectiveness, and overall system-level advantages. NIO Capital’s press release highlights Mavel’s esteemed technology, which has gained recognition from several internationally acclaimed automotive entities. Notable clients include Aston Martin, McLaren, Ducati, Energica, Norton, and NIO.
Distinguished by innovative structural and engineering designs, Mavel’s drive systems hold significant performance advantages in terms of efficiency, speed, and power density. Ian Zhu, a managing partner of NIO Capital, underscores these attributes as contributors to enhanced performance.
With over two decades of collective experience in the automotive sector, Mavel’s founders boast an impressive background. The core team comprises professionals from renowned automotive giants such as Jaguar Land Rover, Mercedes-Benz, BMW, SAIC, and BAIC.
The electric drive system, encompassing the drive motor, motor controller, and transmission system, stands as the core of new energy vehicles (NEVs). This system notably influences power performance, fuel efficiency, and the overall comfort and safety of the vehicle.
See also: NIO Capital Invests in Battery Recycling Company to Expand NEV Industry Presence
As a pivotal element of NEVs, the development trajectory of the electric drive system is determined by the requisites of downstream automakers. Presently, the automotive industry presents challenges to electric drive manufacturers in the forms of high-speed capability and miniaturization.
Mavel’s ownership of numerous patented technologies positions it as a global leader in electric drive performance. Its pioneering advantage boasts formidable technical barriers, as emphasised by NIO Capital.
