Mobius Motors which had recently issued a creditors’ voluntary insolvency notice and subsequent liquidation has found an undisclosed investor who has offered to buy 100% of its shares. Through a statement dated 14th August, 2024 and signed by its Director Nicolas Guibert, Mobius stated that the parties are looking to close the transaction within 30 days.
Speculations are rife as to the identity of the new investor.
Notably, after Mobius announced its planned liquidation, PS Abubakar Hassan Abubakar, Principal Secretary State Department for Investment Promotion. Ministry of Investments, Trade and Industry (MITI) on his X page stated, “Upon noticing the proposed Voluntary winding up by Mobius Motors, together with CEO KAM, we visited the leadership of the company led by the Kenyan Director, Mr John to understand the causes of the winding up. We explored corporate recovery, restructuring, and rescue mechanisms that can be exploited in such circumstances. Going forward, we are coming up with a program to assist such companies get strategic investors who are interested in distressed brownfield investment opportunities. @Waziri_Mvurya @MobiusMotors @_CEOKAM @StateHouseKenya @SpokespersonGoK @Investment_Ke“
A section of Kenyans believe the intervention to save Mobius was brokered by the Government in an effort to enhance and improve local Motor Vehicle Assembly while others believe the timing is suspect, adding that a powerful hand must have used the Kenya Revenue Authority to cripple the Company, then buy it at a low price, noting the factory’s assembly line and the electric mobility investment.
Mobius Motors and Electric Mobility
The Automaker had in August 2013 ventured Into Electric Mobility with New Motorcycle in partnership with battery swapping technology specialist STIMA, and India’s leading electric motorcycle manufacturer One Electric to bring affordable and sustainable electric mobility solutions to Kenya and the rest of Africa. The partnership was intended to help Mobius accelerate the deployment of electric motorcycles in Kenya and create jobs and opportunities for local businesses.
The electric motorcycle to be assembled by the Company would be known as the One Electric One, a motorcycle with a range of up to 100 kilometers powered by a lithium-ion battery that can be swapped in minutes at STIMA’s battery swapping stations.
Young Lawyer with a passion for vehicles.
Upcoming Motor Journalist.
L'écriture est ma passion.
Nissan Patrol Y 62 is the goal.
www.karimi.co.ke
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