Coventry-based electric motorcycle manufacturer Maeving has received a significant financial boost to support its export ambitions. The company has secured a £3m trade financing deal from HSBC UK, backed by the government’s Export Finance (UKEF) department. The funding will help Maeving expand into new global markets, as well as creating 13 additional new jobs.
The agreement followed a meeting between Maeving and UKEF representatives at an Innovate UK event in early 2025, after which they collaborated with HSBC to secure the deal.
Maeving co-founder Will Stirrup 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 US. It’s a real vote of confidence in what we’re building here in Coventry.”
Fiona Begley from UKEF said: “Supporting businesses like Will’s is at the heart of UKEF’s mission. This 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.”
Andy Farmer, relationship director at HSBC, added: “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.”