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, Maeving’s Co-CEO, 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, said support for businesses like this is at the heart of their 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.”