ALYI Finalizes Acquisition Terms On EV Motorsports Business To Accelerate Revenue And Build EV Brand Recognition
Alternet Systems, Inc. (USOTC: ALYI) has finalized terms for acquiring an electric vehicle (EV) motorsports business, aiming to enhance brand awareness and revenue. The company focuses on developing a comprehensive EV ecosystem in East Africa, targeting the sub-Saharan region. The acquisition aligns with ALYI's strategy to create an EV race series and technology hub in Kenya, positioning it as a vital aspect for EV businesses. The acquisition is expected to close within two weeks, and ALYI is collaborating with Revolt Token for funding through token sales.
- Acquisition of an EV motorsports business expected to enhance revenue.
- Strategic positioning in East Africa's developing market for EVs.
- Plans to create a globally recognized EV race series and technology hub in Kenya.
- Potential financial strain due to acquisition costs.
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DALLAS, Nov. 18, 2021 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) ("ALYI") today announced finalizing terms for the strategic acquisition of an electric vehicle (EV) motorsports business expected to generate substantial revenue in addition to making a major contribution to ALYI's EV Ecosystem brand awareness.
ALYI is 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.
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's EV Ecosystem strategy is centered on first introducing EVs in the rugged and economically developing Sub Saharan region of Africa. Sub-Sahara Africa provides both a technology leapfrog opportunity with low per capita transportation resources and an ideal proving ground for best-in-class EV solutions. EVs can be a first transportation resource here, not one that has to replace an existing conventional transportation resource. And if an EV solution can meet the environmental, limited resource, and economic challenges of Sub-Sahara Africa, then it is a proven best in class EV solution.
ALYI intends to build a globally recognized EV race series in Kenya in conjunction with an EV technology hub hosting EV race events combined with EV technology symposiums and trade shows. ALYI plans to brand the EV race and technology hub as essential to every EV business contender. ALYI's vision is for every EV business to view participation in ALYI's Kenya EV race and technology hub as critical to their own respective EV brands.
ALYI has been cultivating a long-term relationship with the target EV race event business acquisition announced today. The acquisition is the next step in a long-term. Partnership. The target EV race event business has established EV race agreements with multiple motorsports operators in addition to developing its own motorsports concepts.
ALYI expects to finalize the acquisition within the next two weeks.
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
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SOURCE Alternet Systems, Inc.
FAQ
What are the details of ALYI's acquisition of the EV motorsports business?
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