Alternet Systems (OTCMKTS:ALYI) on September 23, 2021, announced finalizing terms for delivering 3 wheeled electric vehicles, foraying in Ethiopia’s taxi market. The company had recently confirmed a $2 million revenue target in 2021 expected from sales of electric motorcycles in the motorcycle taxi market in Kenya, adding to the $2 million targets it had set for the current year.
An electric vehicle and electric vehicle ecosystem company focusing on the East African market, ALYI has plans on expanding into the global developing economic market.
The company is building a complete ecosystem addressing the entire EV adoption environment from the design of quality vehicles as well as myriad digital and mechanical systems that go into a best-in-class vehicle. These include charging as well as maintenance infrastructure for supporting commercial and consumer vehicles as well as EV value proposition driving businesses as well as consumers.
This will facilitate the transition of various stakeholders from combustion engines to electric-powered vehicles.
The firm has also designed an EV ecosystem solution including democratized participation and will partner with Revolt TOKEN for financing its growth by offering participation in the EV ecosystem through sales of its tokens.
Market Reaction:
On Thursday, ALYI stock ended flat at $0.0150 with more than 48.84 million shares, compared to its average volume of 18.72 million shares.
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