Electric motorcycle brand reveals exclusive financial partnership

Coventry electric motorcycle company Maeving has chosen Lloyds Banking Group as its exclusive financial partner in a bid to help more people ‘go electric’.

Founded in 2019, Maeving’s USP is the bike’s removable battery – which can be charged from any power outlet, whether at work or at home, making refueling easy.

Demand for electric motorcycles has been growing, with more than 6,000 electric motorcycle registrations in 2021. The Motor Cycle Industry Association estimates that the number will continue to rise to reach 31,000 by the end of 2025.

Lloyds says its partnership with Maveing ​​will be the first relationship with a manufacturer focused entirely on electric vehicles. It has already provided £1bn of funding for battery electric vehicles (BEVs) and plug-in hybrids (PHEVs) in 2022

Nick Williams, Managing Director Transport at Lloyds Banking Group, said: “As the UK market leader in car finance and leasing, we have made supporting the transition to a zero emissions future central to our vision, helping motorists and businesses make the switch. to electric.

“As the adoption of electric vehicles continues to accelerate, we will work closely with government departments and manufacturers to ensure that vehicle supply and supporting charging infrastructure is able to meet demand. motorists.

“Our partnership with Maeving is a really exciting development for us. It will help more people go electric, and our shared philosophy and ambition means we can help each other on our respective journeys to net zero.

Will Stirrup, co-founder of Maeving, said: “As a new UK manufacturer, Maeving is delighted to be working with the UK market leader in automotive asset finance. Through a deep and constructive partnership, we were able to integrate Blackhorse’s quote and apply the journey directly to our direct-to-consumer website via API. To our knowledge, this is a first for an electric motorcycle manufacturer.