Hesketh Motorcycles was founded by Lord Alexander Hesketh, who had earlier run the Hesketh Racing Formula One team - funded by his personal fortune and famous for a 1975 Grand Prix win with driver James Hunt - before financial pressure folded the team in 1978. Hesketh began planning a British superbike as early as 1974, working with engine specialists Westlake on a big V-twin, and formed Hesketh Motorcycles PLC in 1981 to build the resulting V1000 at a purpose-built factory in Daventry. Styled by John Mockett, the 992cc V1000 impressed testers with its handling but was undone by reliability problems, notably a troubled gearbox, and high pricing; only about 140 were sold before the company collapsed. Lord Hesketh bought back the liquidated assets and formed Hesleydon Ltd in 1983 to build a faired version, and a further company later sold the closely related Hesketh Vampire, of which around 40 were made before that venture also folded.