ALYI $300 Million African Electric Vehicle Initiative Surges Forward
July 10 2020 - 2:12PM
InvestorsHub NewsWire
Dallas, TX -- July 10, 2020 -- InvestorsHub NewsWire -- Alternet
Systems, Inc. (OTC
Pink: ALYI), today highlighted an influx of Japanese venture capital into
Africa further improving upon ALYI's access to investment
to fund the company's electric innovation in Africa.
ALYI recently announced a letter of intent for a $25 million
investment that included a $2.5 million advance to fund a design
and engineering phase of a development to construct facilities in
Kenya covering approximately 100 acres that will be required to
host the intended anchor event at the company's annual electric
mobility conference and symposium.
The annual event is one component of the company's overall $300
million initiative centered on initially launching electric
motorcycles for the ride-share market in Africa. ALYI has produced
a pilot vehicle and expects production to start in Africa by year
end.
Next week, on Tuesday, July 14, management plans to publish more
details on the 100-acre development.
For more information and to stay up to date on the latest
developments, 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.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
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