UK motorcycle manufacturer receives over £10 million investment with government help
UK motorcycle manufacturer Maeving has received £11 million of investment, including local government backing.
Maeving, a Coventry-based manufacturer of electric motorcycles, has secured over £10 million of investment.
The investment is intended to help Maeving grow its presence overseas, with increases in sales targeted in Europe and North America.
The £11 million fund includes £500,000 from the West Midlands Co-Investment Fund thanks to West Midlands Mayor Richard Parker.
“Maeving represents the very best of West Midlands innovation,” the Mayor said. “And there is nowhere better than Coventry – the original beating heart of the British motorcycle industry – for them to set up and write a new success story.
“Motorcycle production is a proud part of Coventry’s identity. Maeving means its future in Coventry is bright.
“This investment shows that the green industrial revolution is happening in the West Midlands, creating high-quality jobs for local people and cementing our place as a dynamic exporter and a leader in advanced manufacturing.”
The Co-Investment Fund was established by the West Midlands Combined Authority and the West Midlands Pensions Fund with the objective of generating funding for businesses in the region, allowing sums of up to £1 million to be invested.
“Investing in innovative companies like Maeving reflects our commitment to backing local enterprise that delivers both regional impact and long-term value for our members,” said Paul Nevin, Director of Investment Strategy at West Midlands Pension Fund.
“As a Fund, we’re proud to support high-growth businesses that create skilled jobs, strengthen the local economy, and contribute to sustainable financial returns.”
For Sebastian Inglis-Jones, co-founder of Maeving, the investment is also able to be interpreted as a show of belief not only in his company but in its vision for the motorcycle and wider transport sectors.
“From day one, our vision for Maeving was to bring electric motorcycle manufacturing to the West Midlands, building on the region’s incredible heritage,” he said.
“We believe electric motorcycles have the potential to radically transform our cities for the better, making them cleaner, quieter, cheaper, and healthier places to live, and we’re immensely proud to be the leading electric motorcycle manufacturing company in the UK.
“The support from the Fund isn't just financial; it's an endorsement of our vision for a green revolution in personal transport, and it means we can create more high-skilled, high-paid jobs right here in Coventry.”
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