Dallas, TX, Sept. 10, 2021 (GLOBE NEWSWIRE) -- Alternet Systems, Inc. (OTC Pink: ALYI) (“ALYI”) today highlighted the company’s strategy to beat electric vehicle industry profit trends after yesterday announcing a $2 million revenue target for 2021 from its first sales of electric vehicles.
The company expects to begin delivery on an order of 2,000 electric motorcycles slated for service in the motorcycle taxi (boda boda) market in Africa.
The global motorcycle taxi market was valued by Verified Market Research at $16 billion in 2018 and expected to grow to over 29 billion by 2026.
ALYI will not just generate revenue selling electric motorcycles into the taxi market, ALYI will also generate revenue from participating in the taxi market itself. ALYI expects to acquire an equity stake in a motorcycle taxi business and generate revenue from taxi operations. ALYI plans to evolve the taxi operations long-term into a rideshare operation.
Through participation in the taxi operations, ALYI expects to produce higher gross margins than typical Electric Vehicle (EV) businesses are designed to generate.
Tesla, for instance, reported a 24% gross margin as of June 30, 2021. Uber reported a 46% gross margin as of June 30, 2021. ALYI plans to generate revenue not just from the sale of EVs, but also, for instance, from the rideshare business the company is delivering EVs to.
ALYI’s 2021 revenue target may increase with the addition of EV sales before year end in Ethiopia. The company has previously announced the expansion of an EV pilot into Ethiopia and management is optimistic the pilot may convert into additional EV sales before year end.
While ALYI is generating its first EV industry revenues from the sale of electric motorcycles, ALYI is not just an electric motorcycle business. ALYI is seeding an extensive overall Electric Vehicle Ecosystem Business Strategy with an Electric Motorcycle Business.
ALYI is building an entire Electric Vehicle (EV) Ecosystem that addresses the entire EV adoption environment from the perpetual design of best in class vehicles to the perpetual design of the myriad of mechanical and digital systems that go into a best in class vehicle; from the charging and maintenance infrastructure that goes into supporting consumer and commercial vehicles, to the EV value proposition itself that drives consumers and businesses to transition from combustion engines to electric powered vehicles.
ALYI plans to make its EV Ecosystem Business a central brand name in the overall EV industry with the participation of major auto industry brand names. ALYI is building a core element into its Ecosystem that attracts, if not compels the participation of all would be brand name EV industry leaders in an annual EV symposium and conference. The EV symposium and conference will be anchored by an EV race event in Kenya that in addition to adding substantial revenue, comes with a substantial brand name.
The EV race market was valued in 2019 at over $80 billion dollars and is anticipated to grow to over $200 billion by 2025.
ALYI’s EV Ecosystem is founded on building participation in an EV race event as a central component in advancing EV technology and EV branding.
ALYI has been developing a partnership with a major EV racing brand for more than two years now. Over a year ago, ALYI entered into a formal partnership agreement that includes that EV racing brand. The first milestone objectives contemplated under the agreement have been achieved and the next steps are imminent. ALYI expects the next steps to include naming the EV racing brand at which time, ALYI management anticipates ALYI’s overall visibility within the global EV market to be substantially elevated.
The objective of the EV symposium and conference anchored by an EV race is to advance EV technology by building EV solutions for the African market – a power constrained, rugged environment with one of the lowest per capita transportation deployments in the world. EV solutions for the African market will be applicable the world around. EV solutions designed and built in Africa also contribute to building an autonomous African economy.
ALYI expects to soon make an announcement in regard to taking an equity stake in an African EV race business related to the previously mentioned global EV race brand.
ALYI has designed its EV ecosystem solution to include democratized participation. ALYI has partnered with RevoltTOKEN to finance ALYI’s growth by offering participation in the EV ecosystem through the sale of Revolt Tokens.
To learn more about RevoltTOKEN and how to participate in ALYI’s electric vehicle ecosystem through the purchase of Revolt Tokens, visit https://rvlttoken.com/.
For more information and to stay up to date on ALYI's overall latest developments, please visit 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.
For more information, please visit: http://www.alternetsystemsinc.com
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