ALYI 3 Wheel Electric Vehicles Hit The Road In Ethiopia

Rhea-AI Summary

Dallas-based Alternet Systems (OTC Pink: ALYI) has launched its first 3-wheel electric vehicles in Ethiopia, targeting the taxi and delivery sectors. The company expects to achieve $2 million in revenue by year-end and plans to reach a base revenue target of $10 million in 2022, with a potential stretch target of $50 million. ALYI is also supplying electric motorcycles to Kenya and is in the process of acquiring a local taxi operation to bolster its presence in East Africa. The company is focused on developing an Electric Vehicle Ecosystem, aiming for global expansion.

Positive

• First 3-wheel electric vehicles launched in Ethiopia, enhancing market presence.
• Projected $2 million revenue by year-end 2021, indicating strong initial sales.
• Base revenue target of $10 million for 2022 with a potential stretch target of $50 million.
• Strategic acquisition of a taxi operation expected to enhance delivery of electric vehicles.

Negative

• None.

Dallas, Texas, Dec. 06, 2021 (GLOBE NEWSWIRE) -- Alternet Systems, Inc. (OTC Pink: ALYI) (“ALYI”) today announced its first 3-wheel electric vehicles are now in service as taxis and delivery vehicles in Ethiopia.

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.

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 Hit The Road In Ethiopia

FAQ

What is the revenue target for ALYI in 2022?

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

Where are ALYI's electric vehicles currently being used?

ALYI's first 3-wheel electric vehicles are now in service as taxis and delivery vehicles in Ethiopia.

What market is ALYI focusing on with its electric vehicles?

ALYI is concentrating on the East African market, where electric vehicle solutions have significant growth potential.

How much revenue does ALYI expect to reach by the end of 2021?

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

What type of vehicles is ALYI delivering to Kenya?

ALYI is currently delivering electric motorcycles to Kenya.