Alternet Systems, Inc. (OTCMKTS:ALYI) opened higher on Thursday. The stock has jumped over 25% in the past month.
Market Action
As of 10:37, ALYI stock jumped 2.75% at $0.0519. The stock has traded 1.84 million shares, compared to its average volume of 21.55 million shares. The stock opened at $0.0540 and moved in a range of $0.0492 – 0.0540.
Major Trigger:
ALYI Highlights EV Grid Evaluation Included In EV Rideshare and Self-Drive Rental Pilot In Africa
Key Highlights:
- Alternet Systems highlighted a recent Barron’s article emphasizing the stress on the electrical grid associated with the rise of electric vehicles.
- EVs Need Grid Power. Utilities Better Get Ready.
- ALYI is currently launching an EV Rideshare and Self-Drive Rental pilot program in Africa. ALYI is highlighting the Barron’s article to emphasize the importance of the pilot which will include an evaluation of existing charging infrastructure capacity.
- ALYI has an order to deliver 2000 electric motorcycles in Kenya to be deployed into the motorcycle taxi (boda) market. The first delivery schedule for July is intended to support a first phase, pilot rollout of the rideshare service. The motorcycle ride hail market in Africa is estimated at $4 billion.
- ALYI’s Electric Motorcycle Program is only a small part of the company’s comprehensive strategy to build a far-reaching electric vehicle ecosystem.
- The success of any electric vehicle will depend on the simultaneous availability of an entire network of solutions necessary to support the electric vehicle.
- For example, the electric vehicle support network ranges from the availability of power, to charging stations where power can be accessed, to long-range batteries to make electric vehicles efficient modes of transportation, to connectivity so software updates for motor synchronization and battery optimization applications can be continuously updated along with other electric vehicle user support applications.
- ALYI’s primary business focus is on its overall electric vehicle ecosystem strategy out of which electric vehicles will be just one component.
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