NAIROBI, Kenya- Mobius Motors, the Kenya-based automaker known for its rugged SUVs, has found a new lease on life just a week after announcing its shutdown.
On August 14, Mobius confirmed it had accepted an acquisition offer from an undisclosed buyer.
The deal, which is expected to close within the next 30 days, could mark a significant turning point for the struggling company.
Mobius Motors’ sudden turnaround comes after intense speculation and interest from potential buyers.
Initially reported by Business Daily, the company faced severe financial difficulties, prompting two dealers to explore ways to save the brand.
The bid to acquire Mobius is seen as a promising development, with the buyer possibly intending to leverage Mobius’s state-of-the-art assembly plant in Nairobi.
The acquisition’s impact could be multifaceted. The new owner might use the facility to manufacture their own models or continue producing Mobius’s signature vehicles, which are designed to serve SMEs involved in infrastructure, agribusiness, and remote operations.
With an expansive production facility that includes everything from vehicle frame fabrication to quality testing, the plant represents a valuable asset.
Founded in 2009 by British entrepreneur Joel Jackson, Mobius Motors has been a trailblazer in the automotive sector.
The company made headlines in 2014 with its stripped-down SUV model, engineered specifically for African roads. Priced at a mere $10,000 (KES 1.3 million), the Mobius I was a game-changer in a market where standard SUVs often exceeded $65,000.
The company’s more recent model, the Mobius III, retailing at $43,000, continued this legacy of affordability and durability.
Mobius’s partnership with Chinese automaker BAIC was instrumental in developing this advanced version, showcasing the brand’s commitment to innovation and local needs.
The announcement of the acquisition and the postponement of a creditor meeting suggest a strategic shift.
The postponement, initially scheduled for Thursday, allows time for the acquisition talks to finalize, potentially offering a lifeline to creditors and stakeholders.
As Mobius Motors navigates this transition, the automotive community and local markets will be watching closely.
The potential of a new owner breathing life into the company’s assembly plant and product line could not only salvage Mobius but also bolster Kenya’s automotive industry.
