Kenya’s Mobius Motors, the automotive startup known for manufacturing affordable and durable vehicles tailored for the African market, has been acquired by Middle Eastern investment firm Silver Box. The acquisition comes months after Mobius announced its intent to liquidate due to financial struggles.
Founded in 2010 by British entrepreneur Joel Jackson, Mobius Motors aimed to revolutionize mobility in Africa with robust and cost-effective vehicles. However, financial hurdles, mounting debts, and tax disputes led to the company’s announcement in August 2024 that it was shutting down. The company filed for bankruptcy after failing to secure additional investment and faced creditor claims that threatened its survival. Despite efforts to restructure, Mobius was unable to sustain operations, prompting its closure and eventual acquisition by Silver Box.
Before the acquisition, Mobius had attracted interest from an undisclosed buyer who made a bid for 100% of the company’s shares. The transaction was expected to be finalized within 30 days, but no details were publicly disclosed regarding local investors or buyers involved in the process. The failure to secure a deal with a local entity ultimately led to the acquisition by Silver Box.
The acquisition by Silver Box has now breathed new life into the company, allowing it to resume operations. Mobius has since reopened its Nairobi service center and is gearing up for a full-scale production revival. According to company officials, production of the Mobius III model is set to restart by July 2025, with a new vehicle model expected to launch by December 2025.
As part of the transition, Mobius has seen changes in its leadership structure. John Kavila has been appointed as the new Chief Operating Officer, succeeding former CEO Nicolas Guibert. Kavila is expected to oversee the restructuring and revitalization of the company’s manufacturing and distribution efforts.
The move signals a renewed opportunity for Mobius Motors to continue its mission of delivering locally manufactured, high-quality vehicles designed for African roads. The support from Silver Box is expected to provide much-needed financial stability and strategic direction to enhance the company’s market position.
This acquisition underscores the growing interest in Africa’s automotive industry, as investors seek to tap into the continent’s expanding demand for reliable and affordable transportation solutions. As Mobius Motors regains momentum, industry stakeholders will be watching closely to see how the company navigates its comeback and future growth under new ownership.