DALLAS, TX -- July 9, 2019 -- InvestorsHub NewsWire -- Alternet Systems, Inc. (ALYI) (“ALYI”) management today emphasized the timeliness of its own electric vehicle developments in light of VW’s recent announcement highlighting a strategy to advance an aggressive electric vehicle push. While VW and other big auto manufactures target individual consumers, ALYI’s electric vehicle focus today is on selling to shared ride vendors in Africa, not individual consumers.
ALYI recently announced securing an investment partner to back a planned assembly plant in Kenya to produce ALYI’s ReVolt Electric Motorcycles to be sold across the African continent. The deal to build the manufacturing plant includes an initial order for two thousand ReVolt Electric Motorcycles which would total $20 million in sales. ALYI has already signed $1.5 million in confirmed orders for its ReVolt Electric Motorcycles to be delivered in Kenya. The transportation trend in Africa points toward consumers adopting shared rides as the primary means of transportation in the future and never adopting a widespread privately-owned vehicle custom. ALYI is a leader in targeting the African shared ride trend with electric vehicles.
ALYI is focused on offering varied, environmentally sustainable, energy storage solutions for targeted markets, including consumer electric vehicles and military applications. The first product category is lithium battery-powered motorcycles, to be followed by motorbikes. ALYI also has an ongoing hemp energy storage initiative leading its current efforts to introduce an alternative to lithium batteries.
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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.
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