ALYI - Alternet Systems Targets Highest Potential Segment Within $550 Billion Global Electric Vehicle Market
November 26 2019 - 10:52AM
InvestorsHub NewsWire
Dallas, TX
-- November 26, 2019 -- InvestorsHub NewsWire -- Alternet
Systems, Inc. (USOTC:
ALYI) published an update on its new investment project
intended to substantially expand ALYI’s current initiative to build
electric vehicles in Africa for the African market. ALYI
management maintains that Africa holds higher potential for
eclectic vehicle sector growth than any other region within the
global electric vehicle market anticipated to reach over $550 billion by 2025. Africa is
urbanizing at a rate that exceeds twice the global average.
Car ownership in Africa is extremely low at only 2%
per capita compared to 70% in the U.S. and 50% in Europe
leaving tremendous room for growth. Shared riding has been a
custom in Africa long-before phone apps made the rest of the world
aware of the shared ride market. ALYI is betting on the rapid
adoption of electric vehicles for the shared ride market in Africa
and positioning to be the leader in the field of manufacturing
electric vehicles for the African shared ride
market.
ALYI has
initiated and continues to develop $300 million in electric vehicle
projects in Africa targeting the shared ride market. Through
a partnership, ALYI has recently announced a finance initiative
intended to dramatically expand its electric vehicle developments
in Africa. ALYI last week hosted a kick off meeting in Dallas
with IW Global (www.IW-Global.com),
and ALYI’s Kenyan electric vehicle production partner to raise $100
million to fund infrastructure for the ongoing production of
electric vehicles in Africa.
IW Global has
proposed launching and managing an Initial Coin Offering (ICO) on
ALYI’s behalf specifically targeted at raising $100 million to fund
infrastructure for electric vehicle production in Africa. IW
Global, a well-established technology firm with a wide breadth of
experience spanning projects for NASA and more has recently
implemented multiple blockchain solutions, has proposed launching
and managing an Initial Coin Offering (ICO) on ALYI’s behalf
specifically targeted at raising $100 million to fund
infrastructure for electric vehicle production in
Africa.
ALYI and IW
Global have formulated a plan whereby, ALYI’s production and
marketing partners in Kenya will form a new company (NewCo) with
the specific focus of building a new, state of the art electric
vehicle production plant. This NewCo will be a separate
company apart from ALYI but exclusively contracted by ALYI for
producing ALYI designed vehicles. The NewCo is the business
entity that would initiate the proposed ICO. The funds would
be dedicated to 1. Building the plant and 2. Funding the production
of ALYI’s vehicles. A successful ICO would permit ALYI to
substantially accelerate and expand upon its initial $300 million
in existing electric vehicle
projects.
ALYI has engaged
legal counsel to ensure the cryptocurrency launch would be executed
in compliance with prevailing regulatory
guidelines.
ALYI has engaged
Goldman Small Cap Research to conduct a survey with first time and
experienced cryptocurrency investors in conjunction with a
potential $100 million initial coin offering (ICO) that would
provide strategic financing to fund a major expansion of the
company’s electric vehicle
developments.
Ethereum is the
proposed underling platform for the ALYI cryptocurrency
launch.
The Ethereum
platform and blockchain is the most reliable existing blockchain
and is supported by the Ethereum Foundation, based in Zug,
Switzerland and the Ethereum Enterprise Alliance based in the USA
with members like Microsoft, Intel, Mastercard, UBS, BBVA, Banco
Santander, among others. IW Global is experienced with
Ethereum and has launched previous cryptocurrencies build on the
Ethereum platform.
Coming out of
the meetings last week, ALYI with its partners, plan to soon
announce a new company in Kenya that will be the target of
investment and building a state-of-the-art electric vehicle
research and development and production center. A separate
business entity for managing the sale of cryptocurrency to fund the
Kenyan business will be established within a European venue.
A website on the overall initiative is planned to soon be
launched. The website will include a whitepaper on the
African electric vehicle development
cryptocurrency.
ALYI management
plans to publish continued progress reports as the ICO strategy
develops.
For more
information, 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
info@lithiumip.com
+1-800-713-0297
Alternet Systems (PK) (USOTC:ALYI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Alternet Systems (PK) (USOTC:ALYI)
Historical Stock Chart
From Sep 2023 to Sep 2024