Local carmaker, Mobius Motors, has launched a new KSh330 million manufacturing plant in Nairobi.
According to the company’s Chief Operating Officer, Nicolas Guibert, the factory will produce at least eight units daily. Additionally, the assembly line for passenger vehicles at the facility incorporates fabrication, body shop, paint shop, general assembly, and final line testing.
Mobius Motors is a Kenyan automobile OEM startup founded in 2010 to manufacture vehicles for the African market. It was incorporated in the United Kingdom in 2010 and registered in Kenya in 2011. It is the only automobile company in Kenya and one of the two automobile companies in the East African region with Kiira Motors of Uganda being the other one.
In May 2018, the company received KSh500 million from the US government’s development finance institution Overseas Private Investment Corporation (OPIC) to set up a new factory in Nairobi. The loan was part of a KSh1.1 billion financing Mobius received from investors including New York-based PanAfrican Investment Co.
See Also:
