Silver Box acquires Mobius Motors Kenya amid financial struggles, appoints John Kavila as COO, and plans to revitalize the brand’s market presence and product offerings while addressing challenges ahead.
Silver Box, a Middle East-based investment firm specializing in technology products and services, has acquired Mobius Motors Kenya, an automaker that faced significant financial difficulties leading to a planned shutdown. This acquisition resolves months of complications such as unpaid debts and disputes with suppliers that had surfaced during Mobius’s struggles.
With the acquisition, John Kavila has been appointed as the new Chief Operating Officer, while CEO Nicolas Guibert, who supported the sale, will depart from the company. Kavila expressed his commitment to leading Mobius, highlighting its distinct Kenyan brand and its innovative approach.
Silver Box intends to enhance Mobius’s market presence, launch new vehicle models, and improve its service network. However, the automaker’s ability to rebound from previous challenges, like competition from second-hand imports and financial instability, remains uncertain.
Founded in 2009 by Joel Jackson, Mobius aimed to create economical, rugged SUVs designed for African terrain. The brand successfully raised $56 million from notable investors but struggled against the prevalence of cheaper, second-hand vehicles.
Despite producing various models since the launch of its first SUV in 2014, Mobius faced dwindling demand reflected in pre-order production practices. Ultimately, Mobius entered voluntary liquidation in August 2024, following an inability to reverse its fortunes.
Under Silver Box, Mobius has commenced reopening its service center and plans to restart production of the Mobius III by July 2025, with a new off-road SUV model projected for release by December 2025. The asset-rich Nairobi facility may also be leveraged for future production endeavors or to enhance existing designs.
Silver Box’s acquisition of Mobius Motors presents an opportunity to reinvigorate a distressed automaker with significant local heritage. New leadership under John Kavila aims to expand market presence despite existing challenges. The brand’s focus on the local manufacturing of affordable SUVs continues, with plans for new models seemingly set to steer Mobius towards a potential recovery.
Original Source: techcabal.com
