Nio Capital, the investment arm of the Chinese carmaker, has acquired a stake in Mavel Powertrain, an Italian powertrain manufacturer.
This move means that Mavel, which counts McLaren and Aston Martin among its clients, will be supplying new powertrains for Nio’s upcoming generation of electric vehicles.
Mavel will also serve as a supplier for other essential components.
It’s worth noting that Nio Capital led Mavel’s Series A funding round, which is expected to bring in tens of millions of dollars.
Established in 1999, Mavel’s team is composed of managers with over 20 years of experience in the automotive industry, including roles at JLR, Mercedes-Benz, BMW, SAIC, and BAIC.
In addition to working with Aston Martin, McLaren, and now Nio, Mavel also collaborates with Ducati, Energica, and Norton.
According to Nio, “the core electric drive system consists of the motor, motor controller, and transmission system, which is the heart of a new energy vehicle.”
The statement also highlights several patented technologies by Mavel, showcasing “world-leading electric drive performance and a strong first-mover advantage with extremely high technical barriers.”
Regarding the company’s efforts for its upcoming electric cars, Ian Zhu, a managing partner of Nio Capital, mentioned, “Mavel’s propulsion systems feature innovative structural and engineering designs that provide significant performance advantages in terms of efficiency, speed, and power density.”
However, the company acknowledges the potential future challenges that this new cooperation might address, including the needs of downstream automakers, high speed, and miniaturization as development tasks for electric drive manufacturers.
Apart from its core business, Nio is planning two new brands for more affordable electric vehicles: ALPS and Firefly.
Each brand may operate under an independent management and R&D team, and Nio has been actively recruiting personnel.