ALYI Announces Two EV Acquisitions Anticipated To Close In Q4 2021

Rhea-AI Summary

Alternet Systems, Inc. (ALYI) has announced plans for two strategic acquisitions in East Africa aimed at expanding its electric vehicle (EV) ecosystem. Anticipating a $2 million revenue target in 2021 from electric motorcycle sales, ALYI seeks to integrate into the Kenyan motorcycle taxi market, enhancing profit margins. The second acquisition will support the launch of an annual EV race in Kenya. The company projects rapid finalization of terms for the acquisitions, which have been in development for some time, reinforcing its position in a $200 billion EV market.

Positive

• Plans to acquire East African companies to enhance market presence.
• Anticipated $2 million in 2021 revenue from electric motorcycle sales.
• Integration into the motorcycle taxi market in Kenya expected to increase profitability.
• Second acquisition aims to establish an annual EV race in Kenya, boosting brand visibility.

Negative

• No specific financial metrics provided for the acquisitions.
• Risks associated with executing two substantial acquisitions in a competitive market.

Dallas, TX, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Alternet Systems, Inc. (OTC Pink: ALYI) (“ALYI”) an Electric Vehicle and overall Electric Vehicle Ecosystem company concentrating on the East African market with plans to expand into to the overall global developing economic market, today announced the company plans to execute two strategic acquisitions of East African companies in Q4 2021.

The company recently announced a $2 million 2021 revenue target anticipated from sales of its first electric motorcycles into the African motorcycle market as the company pursues over $200 billion in overall EV market opportunities.

The first of the two acquisitions is designed to strategically integrate ALYI into the motorcycle taxi market in Kenya and enhance the company’s profits by ultimately adding higher margin revenue from the taxi operations to the revenue generated from the sale of electric motorcycles.

The second acquisition will solidify ALYI’s strategy to introduce an annual brand name EV race in Kenya.

ALYI management anticipates finalizing terms on the two acquisitions promptly and correspondingly announcing formal letters of intent (LOIs). The acquisition closings are anticipated to advance rapidly after the LOIs with the acquisitions having already been in the works for some time now.

ALYI is building an entire Electric Vehicle (EV) Ecosystem that addresses the entire EV adoption environment, from the perpetual design of best in class vehicles to the perpetual design of the myriad of mechanical and digital systems that go into a best in class vehicle; from the charging and maintenance infrastructure that goes into supporting consumer and commercial vehicles, to the EV value proposition itself that drives consumers and businesses to transition from combustion engines to electric powered vehicles.

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

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

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

FAQ

What acquisitions is ALYI planning?

ALYI plans to acquire two East African companies to enhance its electric vehicle ecosystem.

How much revenue does ALYI expect in 2021?

ALYI anticipates a $2 million revenue target from electric motorcycle sales in 2021.

What is the strategic importance of the acquisitions for ALYI?

The acquisitions aim to integrate ALYI into the motorcycle taxi market and support the introduction of an annual EV race in Kenya.

What market opportunities does ALYI target?

ALYI is focusing on the overall $200 billion electric vehicle market.

When will ALYI finalize the acquisition agreements?

ALYI expects to finalize the terms of the acquisitions promptly following the issuance of letters of intent.