On Tuesday, it was announced that Silver Box, a Middle East-based investment firm, has acquired Mobius Motors Kenya, a pioneering automaker in the country.
This acquisition marks a new chapter for Mobius Motors, which had been facing financial challenges and was on the verge of collapse.
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Silver Box to restart Mobius Motors Kenya production
Mobius Motors, founded in 2009 by British entrepreneur Joel Jackson, aimed to produce affordable, durable vehicles for African roads.
However, the company struggled with financial difficulties, competition from second-hand imports, and low demand, leading it to near collapse. Silver Box's acquisition brings renewed hope, with plans to restart production by July 2025, beginning with the Mobius 3 model. A new 4×4 off-road SUV is also set to launch by December 2025.
John Kavila, appointed as the new Chief Operating Officer (COO), expressed his optimism about leading Mobius Motors forward: "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," he said.
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Silver Box fuels Mobius expansion
Outgoing CEO Nicolas Guibert highlighted Silver Box's offer as the best choice for ensuring continuity and driving growth.
Silver Box specialises in intelligent investment, expert corporate management, and advanced technology, which will help Mobius Motors expand its market share and develop a network of service stations.
The acquisition has been approved by the Competition Authority of Kenya, which noted that it will not raise competition concerns and will help salvage a failing firm, secure jobs, and contribute positively to the economy.
