Silver Box, a Middle East-based company that invests in tech products and services, has acquired Mobius Motors Kenya, taking over the struggling automaker six months after it announced plans to shut down. The acquisition ends months of financial struggles, including unpaid debts, supplier disputes, and a failed rescue plan.

As part of the acquisition, John Kavila has been appointed as the new COO. CEO Nicolas Guibert, who backed the sale and called Silver Box the best option for sustaining and growing Mobius, will also leave the automaker post-acquisition. In a statement, Kavila expressed his honor to lead Mobius Motors, a company renowned for its bold and innovative approach in creating a truly unique Kenyan brand.

Mobius Motors has built an exceptional foundation, and Silver Box plans to build on this success by focusing on expanding its market share and increasing accessibility for Kenyan consumers. The company aims to roll out new models, strengthen its service network, and expand its market presence.

However, it remains an open question whether the brand can overcome the challenges that led to its collapse, including stiff competition from second-hand imports, weak demand, and financial instability. Founded in 2009 by British entrepreneur Joel Jackson, Mobius set out to build affordable, rugged SUVs suited for African roads.

The company raised $56 million from investors like Playfair Capital, Chandaria Industries, the U.S. government’s DFC, and Pan-African Investment. Mobius’s first model, released in 2014, was priced at $10,000 (KES 1.3 million), far cheaper than traditional SUVs. Despite launching multiple models, including Mobius I, II, and III, the brand struggled to gain traction, with production being on pre-orders, indicating low demand.

Mobius entered voluntary liquidation in August 2024 after failing to secure a turnaround. The company postponed a scheduled creditors’ meeting after receiving an acquisition offer from an undisclosed buyer on August 14. Two automotive dealers were reported to be interested in the brand, and Kenya’s Trade Ministry had explored potential rescue options.

Beyond its SUV lineup, Mobius owned a well-equipped Nairobi production facility capable of vehicle frame fabrication, anti-corrosion treatment, assembly, painting, and quality testing. It also had a research and development unit and a distribution deal with Chinese automaker BAIC, which helped launch the Mobius III.

Now under Silver Box, Mobius has reopened its service centre and will restart production of the Mobius III by July 2025. A new model, continuing its focus on off-road SUVs, is expected by December 2025. The new owners could leverage Mobius’ Nairobi plant to produce their models or continue refining Mobius’ existing designs.

The acquisition marks a new chapter for Mobius Motors, and it will be interesting to see how Silver Box navigates the challenges that led to the brand's initial struggles. With a new leadership team in place, Mobius Motors is poised to make a comeback in the Kenyan automotive market.