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Mobius Motors, Kenyan SUV Manufacturer, Shuts Down Amid Financial Struggles

Mobius Motors, Kenyan SUV Manufacturer, Shuts Down Amid Financial Struggles

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Mobius Motors, the pioneering Kenyan automaker known for its low-priced SUVs, has entered voluntary liquidation after nearly a year of trying to rescue the company. Struggling with rising debts and unpaid suppliers, the startup, backed by notable investors, couldn't withstand the market's challenges.

🚗 Mobius Motors, a Kenya-based automaker, has announced its voluntary liquidation after a prolonged period of financial struggles. Known for manufacturing affordable SUVs tailored for African terrains, Mobius aimed to support SMEs in remote areas. Despite raising $56 million across five funding rounds, the company couldn't overcome market competition from second-hand imports. Founded by Joel Jackson in 2009, Mobius introduced several models but failed to capture significant market share. The liquidation decision, resolved on August 5, 2024, marks the end of an ambitious venture aimed at revolutionizing transportation in Africa.


Key Points:

  • Financial Struggles: Mobius faced increasing debts and challenges in paying suppliers and salaries.
  • Company History: Founded in 2009, the company aimed to produce durable SUVs for African roads.
  • Funding: Raised $56 million from investors like Playfair Capital and Chandaria Industries.
  • Market Challenges: Couldn't compete with the influx of second-hand vehicles in Kenya.
  • Liquidation: Decided on August 5, 2024, to enter voluntary liquidation under Kenya's Insolvency Act 2015.


Mobius Motors' journey from an innovative idea to liquidation highlights the difficulties startups face in competitive markets, even with significant investment and a unique product offering.


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