Silver Box Acquires Kenyan Automaker Mobius Motors Amid Financial Struggles

Silver Box has acquired Mobius Motors, a struggling Kenyan automaker facing closure. John Kavila has been appointed as the new COO, succeeding CEO Nicolas Guibert. The acquisition aims to expand Mobius’s market presence and address its ongoing challenges, including competition and demand issues.

Silver Box, a company based in the Middle East that invests in technology products and services, has acquired Mobius Motors, a Kenyan automaker, following the company’s financial struggles and imminent closure. This acquisition comes six months after Mobius announced plans to shut down, addressing issues such as unpaid debts and supplier disputes.

The acquisition of Mobius Motors by Silver Box marks a new chapter for the automaker, aiming to leverage its existing facilities and develop new models. While challenges persist, including competition from used imports and demand issues, the appointment of John Kavila as COO and plans for expansion present a cautiously optimistic future for Mobius in the automotive market.

Original Source: techcabal.com