Meccaniche Veloci is an independent Swiss-Italian watch brand that was founded in 2006, and was originally established in Milan, Italy. The brand was relocated to Geneva, Switzerland, in 2016 and introduced their first in-house MV8801 movement in the same year. Meccanche Veloci is perhaps best known for the Quattro Valvole model, which was inspired by a motor piston.
Only One Collection
The Only One collection was announced in late 2012 for Meccaniche Veloci’s Race line. Only One Collection Race Quattro Valvole 44 Chronographs were made: one series for bikes and the other for cars, with both incorporating real parts of Grand Prix machines in their dials.
According to Master Horologer, the bike models use 250cc motorcycle fairings from the 2005 season while the car models use bodywork from an unspecified Italian Formula 1 car that won championships in the late 1990s and early 2000s. An undated Only One page on the company website appears to show the nose of a Benetton B197.
There appears to be no official licensing involved, although the materials are certified for authenticity by the brand.

A Benetton Renault B197. (Photo: FalconĀ® Photography, licensed under CC BY 2.0, via Wikimedia Commons)
Additional Racing Partnerships
While details are not well documented, Meccaniche Veloci has previously had official partnerships with Brembo, Suomy, and the .
References
https://www.meccanicheveloci.com/en/
https://masterhorologer.com/meccaniche-veloci-watches/
https://masterhorologer.com/2016/01/16/meccaniche-veloci-presents-the-mv-8801-in-house-movement/
https://masterhorologer.com/2012/12/25/meccaniche-veloci-only-one-collection-race-eta-7750-mechanical-automatic-chronograph/
https://www.meccanicheveloci.com/en/collections/onlyone-eng
https://en.wikipedia.org/wiki/Benetton_B197
