Mobius Motors Kenya, a struggling automaker founded in 2011, who had earlier announced their plans to liquidate the company has found a last-minute lifeline. On August 14, 2024, the company accepted a bid for 100% acquisition from an undisclosed buyer, just days after announcing its closure. This deal, expected to close within 30 days, may save the Mobius car brand from extinction.
In the notice, Mobius director Nicolas Guibert stated, “On August 14, Mobius accepted a bid for the acquisition of 100% of its shares by an undisclosed buyer.”
While the buyer’s identity remains unknown, speculation suggests it could be a well-connected Kenyan businessman. The acquisition could potentially expand Mobius’ product range in the SUV market and lead to an expanded distributorship agreement with BAIC Motor Corporation.
Kenya’s trade and industry ministry had expressed interest in rescuing the cash-strapped automaker, with Permanent Secretary Hassan Abubakar visiting the company’s plant to discuss a possible rescue plan.
