The RM1 combines British heritage styling with the practicalities for every day use including a removable, light-weight battery chargeable from any plug socket and offers the choice of a second battery to extend the range from 40 to 80 miles.The funding from MEIF Maven Debt Finance will support the business in its early stages of growth by providing working capital to assist with the launch of the RM1 and to invest in recruitment of marketing and engineering talent, to enable Maeving to focus on further product development alongside the promotion of the RM1through digital advertising and media channels. Maeving was introduced to Maven by Chris Lawes, Planning & Inward Investment Advisor at the CWLEP Growth Hub, who has been supporting the business through signposting and introductions within the local area. The Coventry and Warwickshire Local Enterprise Partnership (CWLEP) Growth Hub was set up to support the regional growth of SMEs and Chris also provided help with Maeving successfully applying to Coventry City Council for a £49,800 Investment Fund grant from the Coventry and Warwickshire Business Support Programme, which is part funded by the European Regional Development Fund (“ERDF”).Maven is always looking for new businesses striving towards sustainable, responsible products and has invested in many low carbon, environmentally friendly alternative products, and Maeving is a huge opportunity for Maven and the British Business Bank to support the growth of a game-changing zero emission motor business, a first in Maven’s investment portfolio.