Mobius Motors which designs, manufactures and sells vehicles and motorcycles in Kenya and he larger African mass market has received a 100% acquisition offer from an undisclosed buyer, a week after the firm announced plans for closure.
The firm had appointed KVSK Satstry as the liquidator after a shareholders’ meeting held on August 5, 2024 as stipulated in Section 393(1)(b) of the Insolvency Act.
”On 14th August, 2024, Mobius Motors announced it had accepted a bid for the acquisition of 100% of its shares by an undisclosed buyer. Both parties are looking to close the transaction within 30 days,” wrote Mobius Motors in a statement seen by TechMoran.
Established in 2011, Mobius Motors focused on manufacturing Sports Utility Vehicles (SUVs) tailored for African terrains. The company designs and manufactures vehicles for the African consumer – common road terrain, typical vehicle loading and average income levels were important factors in the development of the vehicle. The result, an SUV with the durability required to handle rural roads, sold at the price of a used sedan.
Mobius is not just building vehicles more suited to local demand, but a transport-business platform that empowers local entrepreneurs to run profitable transportation services to end-users in their communities. The range of businesses is vast, from public transport, to mobile medical care, to goods delivery – transforming Africa’s transport network. Mobius’ vision is to become the mass-market car of Africa and connect millions of people across the continent.
Since the vast majority of vehicles in Africa are imported, they are not designed for local usage. High import duties compound the problem, typically doubling the price of a car. Further, the majority of roads in rural and peri-urban areas of sub-saharan Africa are degraded, often cracked and riddled with potholes; making transportation difficult and ultimately restricting mobility.
Across Africa, degraded roads, disparate communities, low-income levels and inadequate vehicles undermine the continent’s transportation system and ultimately constrain economic growth. The main impediment to Africa’s transport network are the vehicles themselves which are too expensive and too unreliable for the consumer.
Mobius was founded in 2011 by Joel Jackson to build a vehicle in Africa, for Africa. The first-generation Mobius II was launched in Kenya in 2015. Mobius continues to provide end-to-end customer support and has applied early product feedback into the development of the next-generation Mobius II, launching in 2019.
Mobius vehicles are designed in Africa, for Africa. From product concept to aftercare, a delightful customer experience is central. Mobius has developed vehicles uniquely suited to the demands of the Kenyan consumer. The new Mobius II has been ruggedised for challenging rural road terrain and simplified to reduce unnecessary cost and weight. Mobius is a design-driven company and our values underpin all of our products.
Mobius vehicles are manufactured in a purpose-built production facility in Nairobi. The highly trained Mobius production team builds each vehicle with the same level of care and attention our customers expect; from the body shop area where the space-frame is manufactured, through to paint shop and then onto general assembly and final line inspections. Mobius utilises internationally recognised quality controls throughout the production line to build each vehicle to world-class lean manufacturing standards.