ALYI CEO Heads To Nairobi And London For Closing Of Two EV Acquisitions

Rhea-AI Summary

Alternet Systems, Inc. (USOTC: ALYI) has announced plans for two strategic acquisitions in East Africa, set to close in November 2021. The first acquisition aims to integrate ALYI into Kenya's motorcycle taxi market, enhancing profitability through higher margin revenue from taxi operations. The second acquisition will support ALYI's initiative to introduce an annual EV race in Kenya, further increasing revenue potential. The company is targeting $2 million in revenue from electric motorcycle sales in 2021 and is developing an Electric Vehicle Ecosystem with participation facilitated through Revolt Tokens.

Positive

• Acquisition into Kenya's motorcycle taxi market expected to enhance profitability.
• Introduction of an annual brand name EV race in Kenya to increase revenue potential.
• $2 million revenue target from electric motorcycle sales in 2021.

Negative

• None.

DALLAS, Oct. 19, 2021 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: 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 next month, in November.

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 and at the same time, increase ALYI's revenue and margin potential.

ALYI CEO Randell Torno will be in Nairobi and London next month in conjunction with the anticipated closing of the two acquisitions.

The company recently announced a $2 million 2021 revenue target anticipated from sales of its first electric motorcycles into the African motorcycle market. 

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 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/.

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

 

View original content:https://www.prnewswire.com/news-releases/alyi-ceo-heads-to-nairobi-and-london-for-closing-of-two-ev-acquisitions-301403741.html

SOURCE Alternet Systems, Inc.

FAQ

What are the strategic acquisitions ALYI is pursuing in November 2021?

ALYI plans to acquire two East African companies: one to enter the motorcycle taxi market in Kenya and another to support an annual brand name EV race.

How much revenue does ALYI expect from its electric motorcycles in 2021?

ALYI targets $2 million in revenue from the sale of electric motorcycles in 2021.

What is the purpose of ALYI's acquisitions?

The acquisitions aim to enhance profitability through higher margin revenues and to expand market presence in the East African electric vehicle sector.

Who is the CEO of ALYI and where is he heading for the acquisitions?

Randell Torno, CEO of ALYI, will be in Nairobi and London for the anticipated closing of the acquisitions.