Mobius Motors Kenya new owner plans to resume assembling the Mobius 3 model within the next six months, with plans to roll out newer models in bid to grow sales.
The company ran into headwinds and was acquired by Middle East-based investment and technology firm Silver Box in March in a transaction that saved the car brand from liquidation.
Chief Operating Officer at Mobius Motors Kenya John Kavila, who previously served as the technical director in the same firm before the acquisition, says customers are still expressing interest in Mobius 3 model and its parts. He explained, that is why the firm wants to ride on this for resumption.
“The first priority is to take care of our existing customers because we already have cars in the market. Since we had temporarily closed down, the customers were struggling to find services regarding repair of their vehicles and the aftercare support,” said Mr Kavila in an interview.
“We have seen a lot of inquiries on the Mobius 3. There are still customers who want that vehicle, and so we are planning to finalise when we would be able to restart those operations and start reselling that vehicle within another six months or so.”
Mr Kavila said the firm has maintained partnership with a supplier of parts in China for the Mobius 3. The vehicle is imported in parts and assembled in the country.
“The long-term vision will be to increase those vehicles that meet different customer needs. We need to introduce additional products; you would call that a mid-range premium SUV … maybe on the lower end, even more premium, more utilitarian types of vehicles as well,” said Mr Kavila.
Mobius was founded over 14 years ago with a total investment of approximately Sh5 billion. It initially had an ambition of building a Kenyan car brand before switching to assemble the BJ40 model of China's BAIC Motor Corporation in 2021 under its Mobius brand.
Mobius ran out of funds in its path to profitability, leading to the initiation of a liquidation process that was thereafter suspended to give room for the buyout.
“It was a business decision. Ultimately, the decision was made based on the conditions, the data and what was available at that time,” said Mr Kavila.
Its former shareholders had balked at injecting additional capital amid continued losses.
Founded in 2011 by British entrepreneur Joel Jackson, the company attracted key backers including Playfair Capital, Chandaria Industries and DFC, a US government development corporation.
The investors had helped the startup raise about $56 million (Sh7.2 billion) in funding over five rounds which proved inadequate to sustain its operations, leaving its showroom empty.
