Kenyan mobility startup Mobius to shut down following failed year-long recovery efforts
- Mobius Motors is set to shut down operations and enter voluntary liquidation.
- A creditors' meeting has been scheduled to approve a liquidator to oversee the process.
- The company faced financial troubles as it failed to capture the Kenyan car market.
The shutdown of Mobius Motors is unfortunate, as the company had a unique focus on providing affordable vehicles for SMEs in remote areas. However, the inability to compete with second-hand imports and financial struggles ultimately led to its closure. This highlights the challenges faced by local manufacturers in capturing market share in the automotive industry.
