Detail information

Fagor Ederlan and Mondragon have invested in EEVAM, a start-up company born with the aim of contributing to the development of new, cleaner, safer and more efficient mobility trends.     

MONDRAGON Business Promotion 

This new investment operation in a startup is part of the corporate strategy of activating entrepreneurial capacities and promoting new businesses among the cooperatives, with a commitment to young companies with a capacity for growth. MONDRAGON has been investing for three years now in some fifteen start-ups involving its cooperatives, through a fund co-managed together with Clave Capital, a professional manager. 

Fagor Ederlan, co-investor 

As part of the Corporation's commitment to promoting new businesses by involving its cooperatives, Fagor Ederlan is participating in the investment in EEVAM. It does so as part of its Corporate Development program and investment in startups, and in line with the strategy of tapping into technological resources for its development of new products (especially systems), beyond the component. 

EEVAM: Engineering, Electric Vehicles and Advanced Mobility 

EEVAM was created with the mission to promote the design, development and production of electric vehicles, based on its expertise in engineering services for the development of new generation vehicles (electric, smart and connected).   

The first round of funding is focused on the launch of its first product, PowerMaster: an intelligent power distribution system. It is a system that can be integrated into electric vehicles and addresses the disadvantages linked to modular-architecture batteries: range, power limitation or battery degradation due to high discharge currents.   

Beyond investment 

The objective will be to develop new product-related R&D projects, especially in the systems considered as a priority in Fagor Ederlan's strategy: electric motor, Battery Pack, in-wheel motor, etc. 

Currently, we have already developed a project for approaching in-wheel motor architectures with EEVAM and are about to close new projects. 

For Fagor Ederlan it represents an exciting challenge to invest in a promising startup that aligns with its vision of the technological future for electric vehicles. 

We remain committed  

At Fagor Ederlan we remain committed to the future of sustainable mobility and look forward to continuing to develop new products and technologies that contribute to sustainable and efficient mobility. We will continue to drive our Corporate Development strategy and look for ways to innovate iand lead the electric vehicle industry.