Electric automotive firm secures £11m investment to help power British motorcycle industry

West Midlands flair and innovation for all things automotive is helping to drive a revival of Britain’s motorcycle industry, with one regional manufacturer powering it towards an electrifying future.  

After being virtually wiped out by foreign competition in the 1970s, the industry’s spiritual home is once again attracting international attention following the return of some of Britain’s most legendary marques.  

Triumph, Norton, BSA and Royal Enfield are all building or designing bikes in the Midlands and now there’s a new name on the scene – Maeving – the UK’s only electric motorcycle manufacturer.  

Based in Coventry, the city that kickstarted the industry more than a century ago, its fusion of retro design and innovative green technology has caught the eye of investors including Richard Parker, Mayor of the West Midlands.

He has contributed £500,000 from the West Midlands Co-Investment Fund (WMCO) towards an £11m package to help Maeving grow its overseas sales in key markets like North America and Europe.  

The Mayor joined Rupert Lyle from Future Planet Capital Regional, which manages WMCO investments, at Maeving’s factory in Sibree Road to see the bikes roll off the production line. 

The Mayor said: “Maeving represents the very best of West Midlands innovation. 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."  

Support for fast growing sectors like advanced manufacturing and green technology is at the heart of the Mayor’s West Midlands Growth Plan, which sets out to boost the region's economy by £17 billion over the next decade, creating 100,000 good jobs, 120,000 new homes, improved public transport and higher living standards.  

And with almost 75% of all the parts used in Maeving’s bikes manufactured in the UK, the company is also helping to drive growth and jobs across the automotive supply chain.   

In the UK, the company’s motorbikes are outselling electric models from all other manufacturers, including Chinese imports and big names like Kawasaki and BMW. It has seen revenues quadruple since 2023, with its RM1S model being named Electric Bike of the Year 2025 by Motorcycle News.

Watch how the region's expertise in motorcycle manufacturing is helping Maeving electrify the industry  

Co-founders Will Stirrup and Sebastian Inglis-Jones have designed the bikes with removable batteries that charge from any standard plug socket, making them a practical option for commuting and leisure.  

Sebastian said: "From day one, our vision for Maeving was to bring electric motorcycle manufacturing to the West Midlands, building on the region’s incredible heritage.   

“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.”  

The WMCO was set up by the West Midlands Combined Authority (WMCA) and the West Midlands Pensions Fund to provide innovative businesses like Maeving with equity of up to £1m, helping them to expand and grow the region’s industries of the future.  

Rupert Lyle, Investment Director and Fund Principal at Future Planet Capital, said: “Maeving’s combination of British engineering heritage with cutting-edge electric vehicle technology is a story of innovation meeting impact.  

"The West Midlands Co-Investment Fund was established to nurture high-growth potential SMEs like Maeving that can supercharge the regional economy.   

“The company’s trajectory, and the high-skilled jobs it's creating, are exactly what we aim to achieve. We provide not just capital, but a wealth of experience to help these businesses scale."  

Paul Nevin, Director of Investment Strategy, West Midlands Pension Fund, added: “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.  

“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.”  

Coun Jim O’Boyle, Coventry City Council's Cabinet Member for Jobs, Regeneration and Climate Change, added: “Maeving is yet another brilliant green first for Coventry, building on our rich manufacturing heritage but with a clear focus on a green future. 

“The team at Maeving is creating good jobs for local people and their ambition is matched by our vision to provide local people with transport options that are cleaner and greener. 

“I’m sure this funding package will help them to pursue their growth plans which in turn will mean more good jobs at Maeving and the local supply chain.  A proper win, win.”

Investors involved in the £11m package include leading UK funds such as Venrex, Future Planet Capital and Elbow Beach Capital, alongside angel investors such as John Ayton MBE (co-founder of Links of London) and Simon Hill-Norton (founder of Sweaty Betty). The package is also supported by a £3 million working capital facility from HSBC.  

The investment is alongside more than £1.1m in grant funding recently awarded by Innovate UK and the Advanced Propulsion Centre for the development of Maeving’s pipeline electric motorcycle technology.  

The £11m package follows a seed investment in August 2020 which attracted notable backers such as Peter Williams, founder of Jack Wills, and former Made In Chelsea star Spencer Matthews.  

 

The rise, fall and rebirth of the West Midlands motorcycle industry  

Coventry has a long connection to motorcycle manufacturing. A combination of innovative engineering and entrepreneurial spirit put the city at the forefront of the motorcycle industry at the turn of the 20^th century.  

By 1905 there were no less than 22 firms making motorcycles in Coventry, including legendary names like Hillman, Humber, Riley, Rover, Singer, and of course Triumph.   

But the industry faced fierce overseas competition following World War II which saw this once world-dominating industry wiped out in the 1970s by imported Japanese bikes.  

More recently, historic British motorcycle names have made a comeback. Triumph is leading the charge after moving from Coventry to new premises in nearby Hinckley. It sold more than 130,000 motorcycles globally in 2024, a record in its 122-year history.  

Royal Enfield opened a new UK Technology Centre at the Bruntingthorpe Proving Ground in Lutterworth last July and two models designed in the Midlands – the Continental GT 650 and Interceptor 650 – have helped the Indian owned company surpass one million annual sales for the financial year ending March 31, 2025.  

BSA, once the world’s largest motorcycle manufacturer, has opened a research and design centre in Banbury. The two models designed there are the Bantam 350, which was the UK's best-selling modern classic motorcycle in October and November 2025 and the BSA Gold Star 650 which was the top-selling bike in the modern classic segment for December 2024.  On the back of the two models, parent company Classic Legends is aiming to increase its global sales across all its brands, which also include Jawa and Yezdi, from around 32,000 a year to more than 80,000.  

And Norton Motorcycles recently started building a brand-new range of bikes at its £200m factory in Solihull.