Kenya’s Mobius Motors, once hailed as Africa’s answer to homegrown vehicle manufacturing, has found a lifeline. Silver Box, a Middle East-based investment firm, has acquired the struggling automaker, marking a fresh chapter for the brand after years of financial turmoil.
Founded in 2009 by British entrepreneur Joel Jackson, Mobius Motors aimed to produce rugged, affordable SUVs tailored for Africa’s rough terrain. Its first model, priced at $10,000 (KES 1.3 million), promised a cheaper alternative to second-hand imports from Japan and Europe.
However, despite backing from investors like Toyota Tsusho, Mobius struggled with low demand, production delays, and funding shortages. Production strategies centred around pre-orders with refundable deposits, reflecting tepid consumer demand.
By August 2024, the company entered voluntary liquidation after failing to secure additional capital. The Kenyan government explored potential bailouts, but no concrete deal emerged. Days after announcing its liquidation plans, Mobius Motors accepted a 100% acquisition offer from an undisclosed buyer.
Under the new ownership, John Kavila has been appointed chief operating officer, taking over from outgoing CEO Nicolas Guibert. Kavila has outlined an ambitious revival plan.
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Silver Box intends to revitalise Mobius’ operations by reopening its service centre and resuming production of the Mobius III by July 2025. A new model, maintaining the brand’s focus on off-road SUVs, is expected to launch by December 2025.
The strategic direction under Silver Box aims to leverage Mobius’s existing infrastructure, including its well-equipped Nairobi production facility, to innovate and meet the evolving demands of the African automotive market.
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Source: Techpoint Africa
