Silver Box Acquires Struggling Kenya Automaker Mobius Motors

STARTUP VENTURE CAPITALMarch 12, 2025 at 9:35 AM UTC

TLDR

Silver Box, a Middle East-based tech investment firm, has acquired Mobius Motors Kenya
This comes six months after the struggling automaker announced plans to shut down
Silver Box intends to expand Mobius’ market presence, roll out new models, and strengthen its service network

Silver Box, a Middle East-based tech investment firm, has acquired Mobius Motors Kenya, taking over the struggling automaker six months after it announced plans to shut down. The acquisition follows months of financial struggles, including unpaid debts and failed rescue attempts.

As part of the takeover, John Kavila has been appointed as the new Chief Operating Officer. Outgoing CEO Nicolas Guibert, who backed the sale, said Silver Box offers the best path for sustaining and growing Mobius.

Silver Box intends to expand Mobius’ market presence, roll out new models, and strengthen its service network. However, the company still faces competition from second-hand imports, weak demand, and financial challenges that led to its initial collapse.

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Points clés à retenir

Founded in 2009, Mobius aimed to build affordable SUVs for African roads, raising $56 million from investors, including Playfair Capital and the U.S. government’s DFC. Despite launching multiple models, the automaker struggled against second-hand imports from Japan, the UK, and Asia. Under its new ownership, Mobius plans to restart production of the Mobius III by July 2025, with a new off-road SUV expected by December. Silver Box could leverage the company’s Nairobi plant for additional models or refine Mobius’ existing designs to better compete in Kenya’s vehicle market.

Startups

Acquisition

Kenya

Mobius Motors

Automaker

Manufacturing

Silver Box