Maeving in the right direction: E-motorbike maker gears up exports with UKEF backing
Government-backed finance enables Coventry-based SME to scale up production and create jobs to meet growing export demand.
Maeving RM1S electric motorbike
- Multi-million-pound trade financing guaranteed by UK Export Finance helps Coventry e-motorbike specialist Maeving scale up production for growing American and European markets
- The small business is to create 13 new jobs as part of its local expansion plans
- Over 70 per cent of bike components are made in the UK, boosting supply chains
A West Midlands electric motorbike specialist has secured a £3 million trade finance facility, backed by UK Export Finance (UKEF), to export to new and growing markets around the world, supporting British supply chains and helping to cut emissions.
Coventry-based Maeving has received the trade financing from HSBC UK to invest in production capacity to meet growing demand in the USA, Germany and France, with plans to expand into further European markets in future.
Anas Sarwar, Minister for Trade, said:
Maeving is exactly the kind of innovative British business this Government is backing – one which will turn growing international demand into jobs in Coventry.
By backing brilliant companies like this, we’re helping support businesses to scale-up, grow the economy and drive growth in every postcode.
Founded in 2018 by Will Stirrup and Seb Inglis-Jones, Maeving has rapidly established itself as a leader in the British electric vehicle market. The company’s first model, the RM1, became the best-selling electric two-wheeler in the UK and last year the RM2 became the first British-made electric motorbike built for two.
The company began exporting to California, Germany and France in 2023. As international demand soared, Maeving faced a challenge common to many smaller businesses: the faster the company grew, the more cash it needed to fund production and fulfil orders.
After Maeving and UKEF representatives met at an Innovate UK event in early 2025, UKEF worked with HSBC UK – as the company’s bank – to agree the trade finance facility.
Will Stirrup, Co-Founder and Co-CEO at Maeving Ltd, said:
We’ve seen huge demand for a product that brings together the sustainability of EVs, the distinction of British motorcycle design, and the flexibility of removable batteries. But as a small business, we found the more we grew, the more cash we needed – which was holding us back.
The support from UKEF and HSBC UK gives us the capital we need to meet growing demand from Europe and the USA. It’s a real vote of confidence in what we’re building here in Coventry.
Fiona Begley, UKEF’s Export Finance Manager for Coventry, added:
Supporting businesses like Will and Seb’s is at the heart of UKEF’s mission. Their story is a great example of how export finance can help unlock overseas opportunities, helping businesses to grow and contributing to economic growth across every region and nation of the UK.
We encourage more businesses to come forward so we can help them take the next step in their exporting journey.
Andy Farmer, Relationship Director, HSBC UK, said:
Maeving is a great example of British clean-tech innovation turning ambition into exports. We’re proud to support the team as they scale up production, create new jobs in Coventry and take a homegrown product to customers in the USA and Europe. It’s a strong vote of confidence in the talent and supply chain behind their bikes.
Smaller businesses like Maeving are central to UKEF’s plan to boost UK exports. Over the last financial year, UKEF provided over £11 billion in loans, guarantees and insurance to help UK companies export and grow, supporting up to 85,000 jobs and contributing up to £6.4 billion to the economy.
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