ALYI and Canoo Target Final Mile Electric Delivery Vehicle Market

Rhea-AI Summary

On August 25, 2020, Alternet Systems, Inc. (ALYI) highlighted the electric vehicle industry's potential through Canoo Holdings' SPAC merger, valuing Canoo at $2.4 billion. ALYI's strategy focuses on producing electric delivery trucks in Africa using hemp materials and batteries, aligning with sustainable energy goals. The company introduced the RevoltTOKEN cryptocurrency, aiming to gather $100 million for its $300 million electric vehicle initiative in Africa. ALYI's comprehensive strategy includes expanding its electric motorcycle production tailored for the African ride-share market.

Positive

• ALYI's partnership with Canoo aligns with the growing electric delivery vehicle market, enhancing its visibility.
• Introduction of RevoltTOKEN aims to raise $100 million for ALYI's mission, with a current commitment of $25 million.
• Focus on sustainable materials (hemp) for vehicle production reflects a commitment to eco-friendly practices.

Negative

• Risks associated with the realization of projected sales and achievement of financial goals.
• Dependence on the success of RevoltTOKEN and market acceptance for funding.

DALLAS, Aug. 25, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) again highlighted the latest electric vehicle industry news about subscription electric van startup Canoo Holdings going public through a SPAC merger with Hennessy Capital Acquisition IV (NASDAQ: HCAC). The deal values Canoo at $2.4 billion. The most recent news from Canoo emphasizes the high potential for electric delivery vehicles to fill the final mile delivery market echoing ALYI's preceding electric vehicle delivery strategy.

Last month, ALYI confirmed plans for producing and selling electric delivery trucks in Africa made of hemp and powered by hemp batteries. The company CEO Dr. Randell Torno, first announced the electric delivery vehicles last September in an interview with the CEO of the Africa Development Organization, Libasse Diop Dia. In the interview, the two CEO's discussed the industrialization of Africa with a focus on the development of clean, sustainable energy. 

ALYI electric delivery vehicle is part of ALYI's overall comprehensive, long-term electric mobility business strategy focused on rapidly expanding into the market in Sub-Saharan Africa. The strategy begins with the production of ALYI's proprietary ReVolt Electric Motorcycle designed for a rugged environment and to support the multi passenger Ride-Share industry in Africa already recognized by Uber and Lyft.

ALYI recently introduced the RevoltTOKEN cryptocurrency dedicated to funding ALYI's $300 million electric vehicle (EV) initiative in Africa. RevoltTOKEN has a current $25 million investment commitment to ALYI as part of an overall planned initial cryptocurrency offering intended to raise $100 million for investment into ALYI.

ALYI has already published a comprehensive narrative presentation on its strategy with RevoltTOKEN. The presentation can be viewed at:

ALYI and RevoltTOKEN Ignite $300M African Electric Vehicle Production and Marketing Campaign

For more information and to stay up to date on ALYI's 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
info@lithiumip.com
+1-800-713-0297

View original content:http://www.prnewswire.com/news-releases/alyi-and-canoo-target-final-mile-electric-delivery-vehicle-market-301118071.html

SOURCE Alternet Systems, Inc.

FAQ

What are the latest developments for Alternet Systems (ALYI) in August 2020?

On August 25, 2020, ALYI highlighted its partnership with Canoo and introduced the RevoltTOKEN cryptocurrency for funding its electric vehicle initiatives in Africa.

How much funding is ALYI aiming to raise through RevoltTOKEN?

ALYI aims to raise $100 million through its RevoltTOKEN cryptocurrency initiative.

What is the valuation of Canoo Holdings after its SPAC merger?

Canoo Holdings is valued at $2.4 billion following its SPAC merger with Hennessy Capital Acquisition IV.

What materials will ALYI's electric delivery trucks use?

ALYI's electric delivery trucks will be made from hemp and powered by hemp batteries.

What is ALYI's strategy for the African electric vehicle market?

ALYI's strategy includes producing electric delivery trucks and motorcycles specifically designed for the African market to support ride-sharing services.