Silver Box Acquires Kenya’s Mobius Motors After Failed Rescue Attempts

Silver Box, a Middle East-based technology investment firm, has acquired Mobius Motors Kenya, officially taking over the struggling automaker six months after it announced plans to shut down. This acquisition marks the end of months of financial instability, including unpaid debts, supplier disputes, and an unsuccessful rescue attempt.

As part of the transition, John Kavila has been appointed as the new Chief Operating Officer (COO), while CEO Nicolas Guibert, who supported the sale and called Silver Box the best option for sustaining Mobius, will step down.

“I am deeply honored to lead Mobius Motors, a company renowned for its bold and innovative approach in creating a truly unique Kenyan brand,” Kavila stated in an announcement “Mobius Motors has built an exceptional foundation, and we are eager to expand our market share and increase accessibility for Kenyan consumers.”

Challenges and Future Plans

Silver Box intends to strengthen Mobius’ market presence, launch new models, and enhance its service network. However, it remains to be seen whether Mobius can overcome the obstacles that led to its decline, including stiff competition from second-hand vehicle imports, low demand, and financial constraints.

Founded in 2009 by British entrepreneur Joel Jackson, Mobius aimed to manufacture affordable, rugged SUVs designed for African roads. The company secured $56 million from investors, including Playfair Capital, Chandaria Industries, the U.S. government’s Development Finance Corporation (DFC), and Pan-African Investment.

Mobius’ first model, released in 2014, was priced at $10,000 (KES 1.3 million)—significantly cheaper than traditional SUVs. Despite launching multiple models, including Mobius I, II, and III, the company struggled against the influx of second-hand imports from Japan, the UK, and Asia. Mobius operated on a pre-order system with refundable deposits, indicating low demand.

Voluntary Liquidation and Turnaround Efforts

Mobius entered voluntary liquidation in August 2024 after failing to secure a financial turnaround. The company postponed a scheduled creditors’ meeting following an acquisition offer from an undisclosed buyer on August 14. Reports indicated that two automotive dealers and Kenya’s Trade Ministry explored potential rescue options.

Beyond its SUVs, Mobius owned a well-equipped production facility in Nairobi, capable of vehicle frame fabrication, anti-corrosion treatment, assembly, painting, and quality testing. The company also had a research and development division and a distribution partnership with Chinese automaker BAIC, which supported the launch of the Mobius III.

What’s Next for Mobius Motors?

Now under Silver Box’s ownership, Mobius has reopened its service center and plans to restart production of the Mobius III by July 2025. A new model, continuing the brand’s focus on off-road SUVs, is expected by December 2025.

Silver Box may leverage Mobius’ Nairobi plant to manufacture additional vehicle models or refine the automaker’s existing designs. Whether the brand can regain market traction under new leadership will depend on its ability to innovate and navigate Kenya’s evolving automotive landscape.