TransportationKE

Mobius Motors Layoffs

August 2024

Mobius Motors announced a layoff affecting 0 employees (100% of its workforce) in August 2024. The company operates in the Transportation sector.

People Affected

Percentage

100%

Announced Date

Aug 6, 2024

About

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.