Kenya’s Mobius Motors Acquired by Silver Box, Kickstarts Revival

Kenyan vehicle re-assembler Mobius Motors has been acquired by Silver Box, a Middle East-based investment firm, six months after the struggling automaker announced plans to shut down. The deal brings some respite to Mobius’ financial troubles, including unpaid debts, supplier disputes, and a failed rescue attempt.

With the acquisition, John Kavila has been appointed COO, while CEO Nicolas Guibert, who supported the sale, will exit. Silver Box aims to expand Mobius’ market share, introduce new models, and strengthen its service network. However, the company still faces challenges such as competition from second-hand imports, weak demand, and financial instability.

Founded in 2009 by British entrepreneur Joel Jackson, Mobius set out to build affordable, rugged SUVs for African roads. Despite raising USD 56 M from investors like Playfair Capital, Chandaria Industries, and the U.S. government’s DFC, the company struggled against cheaper second-hand imports. Production was based on pre-orders with refundable deposits, reflecting low demand.

Mobius entered voluntary liquidation in August 2024 after failing to secure a turnaround. The company delayed a creditors’ meeting when it received an acquisition offer from an undisclosed buyer, later revealed to be Silver Box.

Under new ownership, Mobius’ Nairobi service centre has reopened, and production of the Mobius III will resume by July 2025, with a new off-road model expected in December 2025. Silver Box may also utilise Mobius’ Nairobi plant to manufacture additional vehicle models.