Kenyan vehicle manufacturer Mobius has received a Sh500 million loan from the US

MK254 · Apr 27, 2018

MOBIUS HEAD OFFICE ON MOMBASA ROAD. FILE PHOTO | NMG

Kenyan vehicle manufacturer Mobius has received a Sh500 million ($5 million) loan from the US government’s development finance institution Overseas Private Investment Corporation (Opic) to set up a new factory.

Mobius Kenya said the Nairobi factory, to be unveiled mid this year, will be equipped with new technology that enables end-to-end production capabilities that include fabrication of the vehicle frame, anti-corrosion treatment, general assembly, painting and final inspection and quality testing.

It will also include a research and development arm. Mobius plans to churn out an additional 1,900 vehicles by 2019. It has to date manufactured and sold 50 units, all produced at Thika-based motor vehicle assembler Kenya Vehicle Manufacturer.

“We believe that the growth of manufacturing will be a vital part of Kenya’s industrialisation story over the next decade and beyond, and Mobius will play a key role in realising this vision,” said Mobius Motors, chief executive office, Joel Jackson.

“With our first generation model, we proved that a car can be designed, developed, and built here. As we prepare to launch our new Mobius II model, the stage in our evolution is to establish our own production capacity,” said Mr Jackson.

The Opic loan is part of a Sh1.1 billion ($11 million) financing the firm received from investors who include New York-based PanAfrican Investment Co.

The firm received its first Mobius II pre-order in August 2016 after the first generation model sold out. The new vehicle is priced at Sh1.58 million.

The new vehicle has advanced features including power steering, sealed side windows and lockable doors.

The original model was stripped of extras such as power steering and internal fixtures and the new version is looking to woo a wider clientele base with the improved features.

“Mobius has developed an innovative solution to the shortage of affordable transportation in Africa, which is one of the biggest hurdles to economic growth,” said Ray Washburne, Opic president and CEO.

Mobius gets Sh500m US loan to build plant

MKWEPA KODI · Apr 27, 2018

MK254 said:
MOBIUS HEAD OFFICE ON MOMBASA ROAD. FILE PHOTO | NMG

Kenyan vehicle manufacturer Mobius has received a Sh500 million ($5 million) loan from the US government’s development finance institution Overseas Private Investment Corporation (Opic) to set up a new factory.

Mobius Kenya said the Nairobi factory, to be unveiled mid this year, will be equipped with new technology that enables end-to-end production capabilities that include fabrication of the vehicle frame, anti-corrosion treatment, general assembly, painting and final inspection and quality testing.

It will also include a research and development arm. Mobius plans to churn out an additional 1,900 vehicles by 2019. It has to date manufactured and sold 50 units, all produced at Thika-based motor vehicle assembler Kenya Vehicle Manufacturer.

“We believe that the growth of manufacturing will be a vital part of Kenya’s industrialisation story over the next decade and beyond, and Mobius will play a key role in realising this vision,” said Mobius Motors, chief executive office, Joel Jackson.

“With our first generation model, we proved that a car can be designed, developed, and built here. As we prepare to launch our new Mobius II model, the stage in our evolution is to establish our own production capacity,” said Mr Jackson.

The Opic loan is part of a Sh1.1 billion ($11 million) financing the firm received from investors who include New York-based PanAfrican Investment Co.

The firm received its first Mobius II pre-order in August 2016 after the first generation model sold out. The new vehicle is priced at Sh1.58 million.

The new vehicle has advanced features including power steering, sealed side windows and lockable doors.

The original model was stripped of extras such as power steering and internal fixtures and the new version is looking to woo a wider clientele base with the improved features.

“Mobius has developed an innovative solution to the shortage of affordable transportation in Africa, which is one of the biggest hurdles to economic growth,” said Ray Washburne, Opic president and CEO.

Mobius gets Sh500m US loan to build plant

Hongera sana majirani zetu Kenya sisi tupo bize kukandamiza upinzani

game over · Apr 27, 2018

Kenya should focus on hunger and poverty problems,
I don't see chances of selling those ugly expensive things when there are cheap and Best well designed used cars from Japan and other countries,
Siwezi endesha gari inafanana na Faru wakati naezanunua BMW au Mercedes benzi kwa $7,000 tu,

mwaswast · Apr 27, 2018

game over said:
Kenya should focus on hunger and poverty problems,
I don't see chances of selling those ugly expensive things when there are cheap and Best well designed used cars from Japan and other countries,
Siwezi endesha gari inafanana na Faru wakati naezanunua BMW au Mercedes benzi kwa $7,000 tu,

Hakuna mtu anakulazimisha kununua Kenyan stuff.

Mkikuyu- Akili timamu · Apr 27, 2018

The Mzungu owner of Mobius is looking for Taxpayers Money by angling for lucrative contracts with GoK and subsidies. Less Than 2% of vehicles are bought new ,-zero milage in kenya and most of those new cars are owned by Gok or Parastatals. Asitubebe ufala na hizo overpriced mkebe zake powered by NP300 nissan engines. Even an advanced economy like SA have no priority for a "southafrican" native car, and their government cannot spend money on such

Bantugbro · Apr 27, 2018

Mkikuyu- Akili timamu said:
The Mzungu owner of Mobius is looking for Taxpayers Money by angling for lucrative contracts with GoK and subsidies. Less Than 2% of vehicles are bought new ,-zero milage in kenya and most of those new cars are owned by Gok or Parastatals. Asitubebe ufala na hizo overpriced mkebe zake powered by NP300 nissan engines. Even an advanced economy like SA have no priority for a "southafrican" native car, and their government cannot spend money on such

Its called 'Mobification of the nation'....

3rd man · Apr 27, 2018

Mkikuyu- Akili timamu said:
The Mzungu owner of Mobius is looking for Taxpayers Money by angling for lucrative contracts with GoK and subsidies. Less Than 2% of vehicles are bought new ,-zero milage in kenya and most of those new cars are owned by Gok or Parastatals. Asitubebe ufala na hizo overpriced mkebe zake powered by NP300 nissan engines. Even an advanced economy like SA have no priority for a "southafrican" native car, and their government cannot spend money on such

gezaaa,umezaaa😀

Bottas · Apr 27, 2018

game over said:
Kenya should focus on hunger and poverty problems,
I don't see chances of selling those ugly expensive things when there are cheap and Best well designed used cars from Japan and other countries,
Siwezi endesha gari inafanana na Faru wakati naezanunua BMW au Mercedes benzi kwa $7,000 tu,

Nenda ukasherekee A380 kutua jnia achia wanaume wamekomaa wajadili hoja hapa. ..

Mwanzi1 · Apr 27, 2018

Hiyo yote $5millon ndio inaenda kufanya vyote hivyo, factory, fabricating unit, test facility, R&d. It's like drop in the ocean, hongera kwa R&D unit but na wasi wasi na ubora wake. Kwa tarehe ya leo, kutengeneza gari mpya from concept to finish product sio chini ya $1billion.

mwaswast · Apr 27, 2018

Bottas said:
Nenda ukasherekee A380 kutua jnia achia wanaume wamekomaa wajadili hoja hapa. ..

😱😱😀😀😀

mwaswast · Apr 27, 2018

Mwanzi1 said:
Hiyo yote $5millon ndio inaenda kufanya vyote hivyo, factory, fabricating unit, test facility, R&d. It's like drop in the ocean, hongera kwa R&D unit but na wasi wasi na ubora wake. Kwa tarehe ya leo, kutengeneza gari mpya from concept to finish product sio chini ya $1billion.

Tuletee kazi iliyofanya ile 1.5 trillion and at least for once we might take you somehow serious.😀

Mwanzi1 · Apr 27, 2018

mwaswast said:
Tuletee kazi iliyofanya ile 1.5 trillion and at least for once we might take you somehow serious.😀

I'll give you a deal, mrudishe Miguna kwanza, sisi tutamuonyesha hiyo 1.5trn imekwenda wapi. Deal???

Mkikuyu- Akili timamu · Apr 27, 2018

Mwanzi1 said:
Hiyo yote $5millon ndio inaenda kufanya vyote hivyo, factory, fabricating unit, test facility, R&d. It's like drop in the ocean, hongera kwa R&D unit but na wasi wasi na ubora wake. Kwa tarehe ya leo, kutengeneza gari mpya from concept to finish product sio chini ya $1billion.

Spoken like an intellectual. Any car below $1bn dollar in R&D is a piece of crap that no sane human should enter let alone drive. A cheap secondhand toyota premio goes through such elaborate performance,safety and fuel economy tests that Mobius cannot even get close to.
Its a scheme to sell "kenyan" car to Gok for handsome taxpayer money. No sane kenyan can buy mobius at 1.5M when you can get a very good ex japan toyota or even a Mercedes Benz

MK254 · Apr 27, 2018

Mwanzi1 said:
I'll give a deal, mrudishe Miguna kwanza, sisi tutamuonyesha hiyo 1.5trn imekwenda wapi. Deal???

Hehehe

game over · Apr 27, 2018

Bottas said:
Nenda ukasherekee A380 kutua jnia achia wanaume wamekomaa wajadili hoja hapa. ..

Kwanza Umekula? Maana hapo mnashadadia hii mikebe na hamuwezi jihakikishia walau Milo miwili kwa siku,

bhachu · Apr 27, 2018

Congrats kenya

Mwanzi1 · Apr 27, 2018

Mkikuyu- Akili timamu said:
Spoken like an intellectual. Any car below $1bn dollar in R&D is a piece of crap that no sane human should enter let alone drive. A cheap secondhand toyota premio goes through such elaborate performance,safety and fuel economy tests that Mobius cannot even get close to.
Its a scheme to sell "kenyan" car to Gok for handsome taxpayer money. No sane kenyan can buy mobius at 1.5M when you can get a very good ex japan toyota or even a Mercedes Benz

The devil is on the details, we don't know what kind of researches facility they will have and what kind of products they will develop. It could be just one or two products and the rest they continue to buy off the shelf like what you mentioned before Nissan engines. But your right, it take a minimum of $1billion to develop a small family car, not even a top of range car, but just an ordinary vehicle like VW polo.

We in EAC were not rich enough to be able to own a brand new car, our wages are too small to afford to buy zero mileage car even if we go of a loan. That's why company like mobius they managed to sale only 50 units even though the country imported around 90,000 vehicle every year. Until our people have sustainable wage increase those kind of card the will be driven by the very few. And I'm not sure that what company like Mobius what's

mwaswast · Apr 27, 2018

Mwanzi1 said:
I'll give you a deal, mrudishe Miguna kwanza, sisi tutamuonyesha hiyo 1.5trn imekwenda wapi. Deal???

Mrudisheni Lissu kwanza alafu utuambie 1.5 trillion mlinunulia nini?

pingli-nywee · Apr 27, 2018

mwaswast said:
Mrudisheni Lissu kwanza alafu utuambie 1.5 trillion mlinunulia nini?

Hivi kesi ya Tundu Lissu inaendelaje mahakamani? 🙂

NairobiWalker · Apr 27, 2018

Bottas said:
Nenda ukasherekee A380 kutua jnia achia wanaume wamekomaa wajadili hoja hapa. ..

Wewe ni mchokozi bana. Mbavu zangu.....hah hahah

Kenyan vehicle manufacturer Mobius has received a Sh500 million loan from the US

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