Silver Box, a company based in the Middle East that specializes in investing in technology products and services, has successfully acquired Mobius Motors Kenya, a struggling automaker that had recently announced plans to shut down. This acquisition comes six months after Mobius faced significant financial difficulties, including unpaid debts, disputes with suppliers, and a failed rescue plan, effectively ending a tumultuous period for the company.
As part of the acquisition, John Kavila has been appointed as the new Chief Operating Officer (COO) of Mobius Motors. The current CEO, Nicolas Guibert, who supported the sale and described Silver Box as the best option for the future sustainability and growth of Mobius, will depart from the company following the acquisition.
In a statement, Kavila conveyed his excitement about taking the helm at Mobius Motors, saying, “I am truly honored to lead Mobius Motors, a company celebrated for its bold and innovative approach in establishing a distinctly Kenyan brand. Mobius Motors has laid an exceptional foundation, and we are enthusiastic about building on this success by concentrating on expanding our market share and enhancing accessibility for consumers in Kenya.”
Silver Box has ambitious plans for Mobius, aiming to enhance the brand’s market presence, introduce new vehicle models, and strengthen its service network. However, the path forward remains uncertain, as the company must address the challenges that contributed to Mobius’s previous struggles, including intense competition from second-hand vehicle imports, weak consumer demand, and ongoing financial instability.
Founded in 2009 by British entrepreneur Joel Jackson, Mobius Motors aimed to create affordable, rugged SUVs tailored for African road conditions. The company successfully raised $56 million from various investors, including Playfair Capital, Chandaria Industries, the U.S. government’s Development Finance Corporation (DFC), and Pan-African Investment.
Mobius launched its first model in 2014, priced at $10,000 (approximately KES 1.3 million), significantly lower than traditional SUVs. Despite introducing multiple models, including Mobius I, II, and III, the brand struggled to compete against the influx of second-hand imports from Japan, the UK, and Asia. The company’s production model relied on pre-orders with refundable deposits, which indicated a lack of strong demand for its vehicles.
In August 2024, Mobius entered voluntary liquidation after failing to secure a viable turnaround strategy. The company had postponed a creditors’ meeting after receiving an acquisition offer from an undisclosed buyer on August 14. Reports indicated that two automotive dealers were interested in the brand, while Kenya’s Trade Ministry explored potential rescue options.
In addition to its SUV lineup, Mobius operated 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 unit and a distribution agreement with Chinese automaker BAIC, which facilitated the launch of the Mobius III.
Under the new ownership of Silver Box, Mobius has reopened its service center and plans to resume production of the Mobius III by July 2025. Additionally, a new model, continuing the brand’s focus on off-road SUVs, is expected to be unveiled by December 2025. The new owners may leverage Mobius’s Nairobi facility to produce their own models or continue refining the existing designs of Mobius vehicles, positioning the company for a potential resurgence in the automotive market.
