Alternet Systems Inc (ALYI)

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ALYI 3 Wheel Electric Vehicles Hit The Road In Ethiopia
11:21 AM ET 12/6/21 | GlobeNewswire

ALYI 3 Wheel Electric Vehicles Hit The Road In Ethiopia

Dallas, Texas, Dec. 06, 2021 (GLOBE NEWSWIRE) -- Alternet Systems, Inc. (OTC Pink: ALYI) ("ALYI") today announced its first 3-wheel electric vehicles are now in service as taxis and delivery vehicles in Ethiopia.

ALYI is on track to reach $2 million revenue by year-end from the rollout of its first electric vehicles in East Africa. Management has published details behind a $10 million base revenue target for 2022 and the potential to reach a stretch target of $50 million,

ALYI is also currently delivering electric motorcycles to Kenya.

The taxi market for motorcycles and Bajas in East Africa is robust and ALYI has negotiated an acquisition anticipated to close imminently that will give ALYI a stake in a taxi operation, giving ALYI virtually unfettered ability to expand the delivery of electric vehicles replacing combustion engine vehicles.

ALYI is building an Electric Vehicle (EV) Ecosystem that addresses the entire EV adoption environment, not just the manufacturing of EVs.

ALYI's EV Ecosystem strategy is concentrating efforts first on developing solutions for the East African market where per capita transportation is low and EV solutions have the potential to be a first to market transportation solution rather than a replacement of an existing solution.

EV solutions rugged enough to endure the East African environment are also likely to be viable solutions everywhere else in the world, and ALYI does plans to expand globally.

In a move to accelerate ALYI's EV Ecosystems expansion, ALYI's cryptocurrency funding partner, Revolt Token (RVLT) will now be developing direct investment partnerships with ALYI EV Ecosystem partners.

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/.

The presentation on Friday will also include the latest updates from Revolt Token (RVLT).

For more information and to stay up to date on ALYI's overall latest developments, please visit www.alternetsystemsinc.com.