Mobius Motors Resumes Operations Under New Middle-Eastern Ownership

Mobius Motors, the Kenyan car assembler founded in 2010 by British entrepreneur Joel Jackson, is back in business following its acquisition by Middle Eastern investment firm Silver Box. The company had announced its liquidation in August 2023 after grappling with significant financial challenges.

Silver Box, described as a firm specializing in “intelligent investment, expert corporate management, and advanced technology,” has taken over the reins of the struggling automaker. With the acquisition, Mobius has reopened its Nairobi service center and is set to resume full production and manufacturing of its Mobius III model by July 2024. Additionally, the company plans to launch a new model by December 2024.

The buyout has also ushered in a leadership overhaul. John Kavila has been appointed as the new Chief Operating Officer (COO), replacing outgoing CEO Nicolas Guibert. Kavila expressed optimism about the company’s future, stating, “Mobius Motors has built an exceptional foundation, and we are eager to build on this success by focusing on expanding our market share and increasing accessibility for Kenyan consumers.”

Guibert, in his farewell remarks, highlighted the potential for growth under the new ownership: “I’m happy to hand over to John Kavila, who will pursue the development of Mobius Motors… [He] will get the visionary and financial support from Silver Box to successfully expand the brand’s market share, introduce newer models, develop a network of service stations, and make Mobius Motors a major player on the African continent.”

Before its financial struggles, Mobius Motors had produced three SUV models—the Mobius I, II, and III—and had secured approximately Ksh. 5 billion in investments from notable backers, including U.K.-based venture capital firm Playfair Capital, Chandaria Industries, the U.S. International Development Finance Corporation, and private investment firm PanAfrican Investment.

The revival of Mobius Motors under Silver Box’s stewardship marks a significant turnaround for the company, which aims to reclaim its position as a key player in Kenya’s automotive industry and expand its footprint across the African continent.