Electric motorcycle brand reveals exclusive finance partnership
Coventry electric motorcycle company Maeving, has chosen Lloyds Banking Group as its exclusive finance partner in an effort to help more people ‘go electric’.
Founded in 2019, Maeving’s USP is the bike’s removable battery – which can be charged from any plug socket, whether at work or at home, making it easy to re-fuel.
The demand for electric motorcycles has increased, with more than 6,000 electric motorbike registrations occurring in 2021. Motor Cycle Industry Association estimates the number will continue to grow to 31,000 by the end of 2025.
Lloyds says its partnership with Maveing will be the first relationship with a manufacturer that is completely focused on EVs. It has already provided £1bn worth of funding for battery electric (BEV) and plug-in hybrid vehicles (PHEV) in 2022
Nick Williams the managing director for transport at Lloyds Banking Group said: “As the UK’s market leader in automotive funding and leasing, we’ve made supporting the transition towards a zero-emission future central to our vision, helping motorists and companies make the move to electric.
“As the uptake of electric vehicles continues to gather pace, we’ll work closely with government departments and manufacturers to ensure that the supply of vehicles and supporting charging infrastructure is able to withstand the demand from motorists.
“Our partnership with Maeving is a really exciting development for us. It’ll help more people go electric, and our shared ethos and ambition mean we can help each other on our respective journeys to net zero.”
Will Stirrup, the co-founder of Maeving, commented: “As a new UK manufacturer, Maeving is delighted to be working with the UK market leader for vehicle asset finance. Through a deep and constructive partnership, we were able to integrate Blackhorse’s quote and apply journey directly onto our direct to consumer website via API. To our knowledge this is a first for an EV motorcycle manufacturer.”
