Mobius, maker of low-priced SUVs for startups, to shutdown
- Mobius Motors has entered voluntary liquidation after failed rescue efforts.
- The company struggled to settle suppliers and pay salaries as debts rose.
- Mobius manufactured low-priced SUVs targeting SMEs in remote areas.
The liquidation of Mobius Motors is a significant setback for the Kenya-based automaker. Despite its efforts to manufacture affordable SUVs for SMEs in remote areas, the company struggled to compete with the influx of second-hand imports. The inability to settle suppliers and pay salaries ultimately led to its downfall.
