ALYI 3 Wheel Electric Vehicles Go Into Service In Ethiopia On Monday

Rhea-AI Summary

Alternet Systems, Inc. (ALYI) announced that its first 3-wheel electric vehicles will commence operations as taxis and delivery vehicles in Ethiopia on December 6, 2021. The company expects to achieve $2 million in revenue by year-end and has set a base revenue target of $10 million for 2022, with a potential stretch target of $50 million. ALYI is also delivering electric motorcycles to Kenya and has plans to assemble vehicles locally, contributing to the Ethiopian economy. Additionally, a new acquisition for a taxi operation is anticipated to enhance ALYI's expansion capabilities in the region.

Positive

• ALYI's first electric vehicles will start operations in Ethiopia, enhancing local transport solutions.
• Projected revenue of $2 million by year-end 2021 and a target of $10 million for 2022.
• Potential stretch revenue target of $50 million for 2022.
• Local assembly of electric vehicles will contribute to the Ethiopian economy.
• Acquisition of a taxi operation to support expansion plans in the East African market.

Negative

• None.

Dallas, Texas, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Alternet Systems, Inc. (OTC Pink: ALYI) (“ALYI”) today its first 3-wheel electric vehicles will go into service as taxis and delivery vehicles in Ethiopia on Monday, December 6, 2021. 

ALYI is on track to reach $2 million revenue by year end from the rollout of its first electric vehicles in East Africa.  Management has published details behind a $10 million base revenue target for 2022 and the potential to reach a stretch target of $50 million,

ALYI is also currently delivering electric motorcycles to Kenya.

“We are particularly excited about the three-wheel electric Bajas in Ethiopia because we are actually doing assembly in East Africa,” said Dr. Randell Torno, CEO of Alternet Systems, Inc. “Our EV pilot is maximizing its contribution to the Ethiopian economy by not only providing environmental clean vehicles to the taxi and delivery market, but also by tapping into the local labor market to assemble our vehicles.”

The taxi market for motorcycles and Bajas in East Africa is robust and ALYI has negotiated an acquisition anticipated to close imminently that will give ALYI a stake in a taxi operation giving ALYI virtually unfettered ability to expand the delivery of electric vehicles replacing combustion engine vehicles.

ALYI is building an Electric Vehicle (EV) Ecosystem that addresses the entire EV adoption environment, not just the manufacturing of EVs.

ALYI’s EV Ecosystem strategy is concentrating efforts first on developing solutions for the East African market where per capita transportation is low and EV solutions have the potential to be a first to market transportation solution rather than a replacement of an existing solution. 

EV solutions rugged enough to endure the East African environment are also likely to be viable solutions everywhere else in the world, and ALYI does plans to expand globally.

In a move to accelerate ALYI’s EV Ecosystems expansion, ALYI’s cryptocurrency funding partner, Revolt Token (RVLT) will now be developing direct investment partnerships with ALYI EV Ecosystem partners.

ALYI has designed its EV Ecosystem solution to include democratized participation. ALYI has partnered with Revolt Token to finance ALYI’s growth by offering participation in the EV Ecosystem through the sale of Revolt Tokens. 

To learn more about Revolt Token and how to participate in ALYI’s electric vehicle ecosystem through the purchase of Revolt Tokens, visit  https://rvlttoken.com/.

The presentation on Friday will also include the latest updates from Revolt Token (RVLT).

For more information and to stay up to date on ALYI's overall latest developments, please visit 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.

For more information, please visit: http://www.alternetsystemsinc.com
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297

Attachment

• ALYI 3 Wheel Electric Vehicles Go Into Service In Ethiopia On Monday

FAQ

When will ALYI's electric vehicles begin operation in Ethiopia?

ALYI's electric vehicles will start operations on December 6, 2021.

What revenue does ALYI expect by the end of 2021?

ALYI expects to achieve $2 million in revenue by the end of 2021.

What are ALYI's revenue targets for 2022?

ALYI has set a base revenue target of $10 million for 2022, with a potential stretch target of $50 million.

Is ALYI expanding its operations beyond Ethiopia?

Yes, ALYI plans to deliver electric motorcycles to Kenya and expand globally.

How is ALYI contributing to the Ethiopian economy?

ALYI is assembling its electric vehicles locally, which supports the local labor market.