(Nairobi) – Mobius Motors, once celebrated as Kenya’s pioneering local car brand, has been rescued from collapse through an acquisition by Silver Box, a little-known investment firm based in the Middle East. The acquisition has breathed new life into the struggling automaker, which was placed into voluntary liquidation in August 2024 after facing severe financial challenges.
Silver Box, which describes itself as specialising in corporate turnaround, advanced technology, and strategic investment, completed the acquisition in October 2024 after negotiations that began shortly after Mobius announced its liquidation. Though the acquisition was only publicly confirmed in March 2025, regulatory clearance was earlier granted by the Competition Authority of Kenya, which determined that the transaction posed no threat to fair competition.
Mobius Motors had struggled for years to maintain its operations. Despite raising USD 56 million across five funding rounds, the company could not achieve the scale needed to be self-sustaining. It faced stiff competition from cheaper second-hand vehicle imports, mostly from Japan and the UK, which dominated Kenya’s automotive market. A lack of significant government support further worsened its position, as the company failed to secure procurement contracts from public institutions that could have guaranteed a steady market for its vehicles.
In 2021, Mobius faced a tax dispute with the Kenya Revenue Authority involving a KES 73 million claim—equivalent to approximately USD 560,000 at the time—adding legal pressure to its financial struggles. The company’s business model, which relied on pre-orders to manage production costs, also proved unviable amid fluctuating consumer demand. Although its vehicles were tailored for rugged Kenyan terrains, the market’s appetite for large, locally made SUVs did not meet projections.
By August 5, 2024, Mobius shareholders voted to dissolve the company under Kenya’s Insolvency Act of 2015, appointing a liquidator to oversee the winding-up process. Many saw this as the end of Kenya’s automotive manufacturing hopes. But Silver Box’s entry has offered an unexpected second chance.
Under new ownership, Mobius Motors is charting a revival strategy that includes a resumption of vehicle production, re-opening of service centres, and the launch of a new model. The company’s Nairobi service facility has already resumed operations, offering support to existing Mobius vehicle owners.
Production of the Mobius 3 model is expected to restart by July 2025, marking the first manufacturing cycle under Silver Box’s oversight. Furthermore, a new 4×4 off-road SUV is scheduled for launch in December 2025, aimed at appealing to Kenya’s growing middle class and regional consumers who require durable, locally tailored vehicles.
Silver Box has also introduced leadership changes to steer the company’s turnaround. John Kavila has been appointed Chief Operating Officer, taking over from outgoing CEO Nicolas Guibert. Kavila, an experienced professional in manufacturing and operations, has committed to expanding Mobius’ market reach and improving affordability for Kenyan consumers.
Outgoing CEO Guibert welcomed the transition, expressing optimism that the new leadership, backed by fresh capital and a clear strategy, will position Mobius for long-term success.
Industry observers say the acquisition and subsequent revival of Mobius Motors could have wide-ranging effects on Kenya’s manufacturing sector. Renewed focus on domestic vehicle production may help reduce dependence on imported cars and encourage the growth of local supply chains. The return of manufacturing activities is also expected to create jobs for engineers, factory workers, and technicians.
Nonetheless, challenges remain. Mobius will need to offer competitively priced and reliable vehicles to stand a chance against second-hand imports, which continue to dominate the market. Achieving financial sustainability will require not just strategic investment but also supportive government policies—something the company previously lacked.
Experts argue that the success of Mobius this time may hinge on whether the government recognises the strategic importance of local automotive production and enacts policies to support it, such as tax incentives, procurement preference for local vehicles, and protection from unfair competition.
While Silver Box’s investment has given Mobius Motors another chance, questions remain about whether this new chapter will succeed where the previous one failed. Much will depend on how effectively the company executes its new strategy and whether it can regain the trust and interest of the Kenyan market.