DALLAS, Dec. 10, 2019 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today highlighted a $225 billion market wide investment by automakers in the electrification of vehicles in 2019. ALYI management points to the market wide investment as a validation of ALYI's own $300 million electric vehicle initiative. At the same time, ALYI management points out the differentiation of ALYI's strategy. The same article that highlights the $225 billion investment also highlights the typical focus by automakers on electric vehicles for developed economic markets. Automakers must rely on sales to "early adopters" in developed markets where consumers must move away from fossil fueled cars. ALYI on the other hand is concentrating its efforts on developing electric vehicles for developing economic markets where electric vehicles are likely to be an initial vehicle purchase, not one replacing a fossil fuel powered vehicle.
ALYI has also recently announced a $100 million cryptocurrency investment strategy targeted at expanding beyond the company's existing $300 million in electric vehicle projects in Africa. ALYI is developing $300 million in electric vehicle projects in Africa targeting the shared ride market. The company has signed orders to produce in Africa, electric motorcycles with a side car initially for shared ride providers in Kenya. The company successfully passed an electric motorcycle prototype testing milestone recently and anticipates having its production design pilot motorcycle completed any day.
ALYI CEO, Randell Torno will meet in London next week to advance a developing opportunity anticipated to bring global attention to ALYI's electric vehicle initiative in Africa. The opportunity out of London has been in the works for months and ALYI management considers the upcoming meetings to be a major watershed event. The next step following the meetings is anticipated to advance rapidly and to be the first step where the public will become aware of the full magnitude of the opportunity.
For more information, please visit: http://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.
Contact:
Alternet Systems, Inc.
Randell Torno
info@lithiumip.com
+1-800-713-0297
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SOURCE Alternet Systems, Inc.
