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In Summary

Mobius Motors has announced its decision to cease operations in Kenya and liquidate the company following a shareholders' resolution.

A creditors' meeting will be held on August 15, 2024, to consider the appointment of KVSK Sastry as the liquidator, marking the end of the company's 13-year journey in the African automotive market.

 Mobius Motors, a vehicle manufacturer, has announced that it will cease operations in Kenya following a shareholder decision to liquidate the company.

At a meeting on August 5, 2024, the company's shareholders resolved to place Mobius Motors into liquidation under Section 393(1)(b) of the Insolvency Act. The shareholders have nominated KVSK Sastry as the liquidator to oversee the winding-up process.

Nicolas Guibert, a director at Mobius Motors, confirmed that a creditors' meeting is scheduled for August 15, 2024, at 9 a.m. The meeting will take place at the Mobius Factory located at the Sammer Africa facility at the junction of Mombasa Road and Enterprise Road in Nairobi. During this meeting, creditors will consider and, if deemed appropriate, approve the shareholders' nominee for liquidator as stipulated by Section 408 of the Insolvency Act.

Guibert also mentioned that a list of creditors and proxy forms will be available for inspection at no cost starting August 9, 2024. These documents can be accessed at the Mobius Motors office in Block C3, Sameer Business Park, Mombasa Road, Nairobi.

The closure of Mobius Motors marks the end of a 13-year journey. The company was founded in 2011 by British entrepreneur Joel Jackson, with the goal of producing vehicles tailored for the African market. The first-generation vehicle, Mobius II, was launched in Kenya in 2015.

The decision to liquidate comes as a significant development in the company's history, concluding its mission to build affordable and durable cars for the region.