Final answer:
The nerve fiber bundles on the ventrolateral surface of the mesencephalon are the cerebral peduncles. They serve as a pathway for transmitting motor signals from the cerebral cortex to the spinal cord and other parts of the body.
Step-by-step explanation:
The nerve fiber bundles on the ventrolateral surface of the mesencephalon are the cerebral peduncles. The cerebral peduncles are located in the midbrain and serve as a pathway for transmitting motor signals from the cerebral cortex to the spinal cord and other parts of the body. They contain both descending motor fibers and ascending sensory fibers.