Mobius Motors, a Kenyan vehicle manufacturer and assembler, is shutting down entirely and entering voluntary liquidation, resulting in the layoff of all its employees. The company, which had raised $56 million and produced affordable SUVs for African terrains, failed in its year-long recovery efforts due to severe financial struggles that left it unable to pay suppliers and salaries. A creditors' meeting is scheduled for August 15, 2024, following a shareholder resolution on August 5, marking the end of the mobility startup that once aimed to serve SMEs in remote areas.
