Alternet Systems (OTCMKTS:ALYI) Stock Falls 15% in a Week

Alternet Systems (OTCMKTS:ALYI) on August 10, 2021, previewed a milestone announced that would augment the company’s visibility in the global electric vehicle market.

ALYI’s business focuses on the introduction of EV ecosystem addressing a complete EV adoption environment. This includes the design of best-in-class vehicles and then moving to the design of countless digital and mechanical systems besides setting up charging and maintenance infrastructure for supporting commercial and consumer vehicles. This will move consumers and businesses towards electric vehicles from combustion engines.

The firm is making core elements into the ecosystem that would allure participation of all EV industry leaders in the annual EV symposium and conference. Anchored by EV race event in Kenya, the symposium and conference come with a substantial brand name.

The market for Electric Vehicles was valued at $80 billion in 2019 and is expected to grow to about $200 billion by 2025.

ALYI has been focusing on partnerships with major EV racing brands for over two years as it entered into a formal partnership agreement a year back. The primary milestone under the agreement have been completed and the company is expecting the next steps as naming the EV racing brand.

The objective of the conference will be for advancing EV technology through EV solutions for the African market. The firm initiated a pilot program in Kenya being conducted in conjunction with the 2,000 electric motorcycle order.

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