Kenya’s Mobius Motors, Maker Of Rugged SUVs, Ceases Operations Due To Financial Difficulties

Kenya’s Mobius Motors, maker of affordable rugged SUVs, ceases operations due to financial difficulties.

Decision to stop operations comes due to logistical challenges of moving production facilities to another country.

The Nairobi-based car company was founded in 2010 by British entrepreneur Joel Jackson.

Despite creating affordable SUVs, Mobius still faced competitions from imported second-hand SUVs from U.K and U.S.

Mobius Motors Kenya Limited, a Nairobi-based car manufacturer founded in 2010 by British entrepreneur Joel Jackson, has announced it will cease operations due to financial difficulties.

The decision to discontinue operations in the Kenya was announced on August 5th at a shareholders’ meeting held in Nairobi. The move to relocate its existing production facilities to another country was rejected due to logistical challenges.

• See Also : North Korea’s Kim Jong-un Travels Through Floodwaters In Lexus LX 600 SUV To Supervise Evacuation Efforts

“At a meeting of the shareholders held on 5 August 2024, it was resolved to place the company under liquidation as per Section 393(1) (b) of the Insolvency Act and appoint KVSK Sastry as the liquidator to wind up the company,” Nicolas Guibert, Mobius director, said in a notice.

Kenya’s MOBIUS, alongside Uganda’s Kiira Motors, Ghana’s Kantanka and Nigeria-based Innoson Motors, was part of a push by investors and governments to create jobs by launching home-grown vehicle manufacturers.

Despite creating affordable and rugged SUVs for Africa’s challenging roads, Mobius still faced stiff competitions from imported second-hand SUVs from U.K and U.S, priced roughly half the price of the Kenya-made SUV.

• See Also : Marc Philipp Gemballa Begins Production Of Porsche 911 Turbo S-based MARSIEN Offroad Supercar