Dallas, TX -- June 16, 2020 -- InvestorsHub NewsWire -- via Alternet Systems, Inc. (USOTC: ALYI) today highlighted the continuing progress being made by BYD (OTC:BYDD.F), the Chinese electric vehicle (EV) manufacturer which is backed by Warren Buffet’s Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) which owns 25%.   On Monday, BYD reported that it had secured US $113 million in a Series A+ round for its chipmaking arm, BYD Semiconductor.  BYD is working to make China self-sufficient in the production of EV manufacturing.  ALYI sees BYD’s progress and Warren Buffets backing as a validation of ALYI’s strategy in Africa.

ALYI has an overall $300 million comprehensive electric vehicle strategy in Africa founded on initially launching the commercial production of the company’s own ReVolt Electric Motorcycle.  The ReVolt Electric Motorcycle pilot passed initial design requirements and ongoing pilot design refinements are expected to soon deliver a reduced overall weight and improved cruising range.  ALYI has partnered with an independent firm founded specifically for launching an initial crypto currency offering (ICO) dedicated to funding ALYI’s overall $300 million electric mobility project in Africa.

ALYI is well on track with its funding partner for the African electric mobility project.  A cryptocurrency has already been partitioned on the Ethereum Blockchain. A pre ICO funding round is ready to launch and ICO details are being finalized. 
For more information and to stay up to date on the latest developments , please visit: http://www.alternetsystemsinc.com

Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.

Alternet Systems, Inc. Contact:
Randell Torno



SOURCE:  Alternet Systems, Inc. 

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