ALYI Expands EV Rideshare Business Into Second Region Targeting $16 Billion Global Market

Rhea-AI Summary

Alternet Systems, Inc. (USOTC: ALYI) has expanded its Electric Vehicle (EV) Rideshare Pilot to Ethiopia, following a similar pilot in Kenya. The company is set to deliver 2,000 electric motorcycles before the year's end. CEO Randell Torno stated that a three-wheeled 'Tuk Tuk' manufacturer partnership has been secured for the Ethiopian market. The global motorcycle taxi market is valued at $16 billion and expected to grow to over $29 billion by 2026. ALYI aims to create an integrated EV Ecosystem and enhance its visibility in the global EV market through partnerships and an upcoming EV symposium anchored by a racing event.

Positive

• Expansion of EV Rideshare Pilot to Ethiopia, indicating growth potential.
• Secured partnership with a Tuk Tuk manufacturer for EV collaboration.
• Expected delivery of 2,000 electric motorcycles before year-end, enhancing operational capacity.
• Engagement in a market projected to grow from $16 billion to over $29 billion by 2026.

Negative

• None.

DALLAS, Aug. 24, 2021 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) ("ALYI") today announced the company has expanded its Electric Vehicle (EV) Rideshare Business Pilot to Ethiopia.  The company launched a pilot in Kenya in July in conjunction with a 2,000 electric motorcycle order.  CEO Dr. Randell Torno expects to begin delivering on the 2,000 electric motorcycle order before the end of the year.  The company intends to publish a specific revenue shortly after Labor Day which falls on September 6, 2021. 

The pilot expansion in Ethiopia has been in the works for approximately the last year.  Dr. Torno visited Addis Ababa earlier this month to finalize expansion plans.

"Where Kenya uses motorcycles as taxis and delivery vehicles, Ethiopia uses three wheeled 'Tuk Tuks," said Dr. Torno.  "So part of the ground work involved in our expansion to Ethiopia included finding a Tuk Tuk manufacturer open to an EV collaboration.  We now have a manufacturer relationship and expect to have our first electric Tuk Tuk's on the road in Ethiopia soon, well before the end of the year."

Tuk Tuks in Ethiopia

Africa has millions of motorcycles, both two wheeled and three wheeled, deployed as taxis or boda-bodas and tuk tuks, and ALYI, as one part of its overall EV Ecosystem Business Strategy, is engaged in a project to replace combustion engine motorcycles with electric motorcycles. 

The global motorcycle taxi market was valued by Verified Market Research at $16 billion in 2018 and expected to grow to over 29 billion by 2026.

ALYI has seeded an overall EV Ecosystem Business Strategy with the development of its own EV motorcycle business discussed above.

Instead of introducing a single EV product, ALYI's business focus is on the introduction of an 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.

Ultimately, ALYI does not intend to go it alone on the overall development and rollout of its EV Ecosystem. ALYI is building a core element into its Ecosystem that attracts, if not compels the participation of all would be brand name EV industry leaders in an annual EV symposium and conference.  The EV symposium and conference will be anchored by an EV race event in Kenya that comes with a substantial brand name.

The EV race market was valued in 2019 at over $80 billion dollars and is anticipated to grow to over $200 billion by 2025. 

ALYI's EV Ecosystem is founded on building participation in an EV race event as a central component in advancing EV technology and EV branding.

ALYI has been developing a partnership with a major EV racing brand for more than two years now.  Over a year ago, ALYI entered into a formal partnership agreement that includes that EV racing brand.  The first milestone objectives contemplated under the agreement have been achieved and the next steps are imminent.  ALYI expects the next steps to include naming the EV racing brand at which time, ALYI management anticipates ALYI's overall visibility within the global EV market to be substantially elevated.

The objective of the EV symposium and conference anchored by an EV race is to advance EV technology by building EV solutions for the African market – a power constrained, rugged environment with one of the lowest per capita transportation deployments in the world.  EV solutions for the African market will be applicable the world around.  EV solutions designed and built in Africa also contribute to building an autonomous African economy. 

ALYI has designed its EV ecosystem solution to include democratized participation. ALYI has partnered with ReovltTOKEN 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/.

ALYI plans to make a major announcement later this month regarding the EV race that management expects will garner substantial attention to ALYI's overall EV Ecosystem strategy.

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

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SOURCE Alternet Systems, Inc.

FAQ

What is ALYI's recent expansion in the EV sector?

ALYI has expanded its Electric Vehicle Rideshare Pilot to Ethiopia, following a pilot in Kenya.

When does ALYI expect to deliver its electric motorcycles?

ALYI expects to deliver 2,000 electric motorcycles before the end of the year.

What is the projected growth of the motorcycle taxi market?

The global motorcycle taxi market is projected to grow from $16 billion in 2018 to over $29 billion by 2026.

How is ALYI developing its EV Ecosystem?

ALYI is developing an integrated EV Ecosystem that includes partnerships and an upcoming EV symposium anchored by a racing event.