ALYI Electric Vehicle Market Expansion Gains Momentum

Rhea-AI Summary

Alternet Systems (ALYI) announced CEO Randell Torno's visit to Addis Ababa, Ethiopia, to reaffirm a letter of intent for an electric vehicle order executed last September. Following a recent trip to Nairobi for a motorcycle pilot targeting a 2,000-vehicle order in Kenya, ALYI plans to launch an imminent pilot in Ethiopia. Additionally, the company is collaborating with Revolt Token to finance growth through token sales, enhancing participation in their electric vehicle ecosystem.

Positive

• Reaffirmation of a letter of intent for an electric vehicle order in Ethiopia.
• Engagement in parallel projects in Ethiopia and Kenya may increase market reach.
• Partnership with Revolt Token to fund growth through token sales.

Negative

• Initial order size in Ethiopia has not yet been determined, creating uncertainty.
• Potential risks associated with forward-looking statements regarding sales and contracts.

DALLAS, Aug. 9, 2021 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) ("ALYI") today announced CEO Randell Torno is in Addis Ababa, Ethiopia to reconfirm a letter of intent (LOI) for an order of electric vehicles to be delivered by ALYI. The original LOI was executed last September.

Last week, Dr. Torno was in Nairobi, Kenya in conjunction with an electric motorcycle pilot to advance a 2,000-vehicle order targeting the Kenyan motorcycle taxi market.

ALYI anticipates the engagement in Ethiopia to run at a parallel pace to the engagement in Kenya. While an initial order size has not yet been determined, the launch of a pilot is imminent.

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 www.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-electric-vehicle-market-expansion-gains-momentum-301351118.html

SOURCE Alternet Systems, Inc.

FAQ

What is the latest announcement from Alternet Systems (ALYI) on August 9, 2021?

Alternet Systems announced the CEO's visit to Ethiopia to reaffirm a letter of intent for an electric vehicle order.

What is the significance of the letter of intent mentioned in the ALYI press release?

The letter of intent is crucial as it signifies a commitment to a future electric vehicle order in Ethiopia.

What are the details of ALYI's electric motorcycle order in Kenya?

ALYI is advancing a 2,000-vehicle order targeting the motorcycle taxi market in Kenya.

How is ALYI financing its growth in the electric vehicle sector?

ALYI is partnering with Revolt Token to sell tokens for financing its electric vehicle ecosystem.

What challenges does Alternet Systems (ALYI) face regarding its electric vehicle orders?

Challenges include uncertainties about the initial order size in Ethiopia and the risks highlighted in their forward-looking statements.