ALYI Electric Motorcycle Manufacturing Backed By New Legislation
DALLAS, Aug. 3, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today announced that new manufacturing legislation will provide the company an advantage over competitors. ALYI plans to begin manufacturing its Revolt Electric Motorcycle in Kenya later this year. The company's plan has always been to manufacture locally. Last week, Kenya advanced new legislation giving advantage to local motorcycle manufacturing initiatives and making import competition more difficult.
Excerpts from news on new legislation:
"This will instantly transform the motorcycle assembly sector in Kenya into one of the biggest private-sector employers. This will eventually save money for motorcycle buyers. There is already a growing market for motorcycles in Kenya and the East African region."
"The annual demand for motorcycles in Kenya is approximately 180,000 annually while in East Africa it is 680,000."
"If we tap into this low hanging fruit exponentially, we will naturally become a hub of motorcycle manufacture and will eventually penetrate the entire African market through the African Continental Free Trade Agreement."
ALYI has already entered into an agreement to receive a $25 million investmet from RevoltTOKEN. The investment is part of a RevoltTOKEN planned initial cryptocurrency offering (ICO) intended to raise $100 million for an overall investment into ALYI's $300 million electric mobility initiative in Africa.
RevoltTOKEN has published a draft white paper on its planed ICO that includes details on the high return on investment opportunity that can result from investing in Africa utilizing local resources.
"The return on investment potential from delivering technology innovation to developing economic populations will be unbeatable for the next 100 years. Approximately 1.2 billion people today live in the developed economies of North American and Europe. With a global population of 7.7 billion, that leaves some 6.5 billion people living in regions of the world underserved by current technological capacities. Technology innovation that, for instance, improves energy efficiency and, in turn, increases access to power and transportation within developing economic countries can deliver Rockefeller returns to the investors backing the innovation. The current state of investment innovation backed by blockchain technology opens access to such investment opportunities to anyone with an internet connection. RevoltTOKEN (RVLT) is introducing a blockchain enabled cryptocurrency specifically for the purpose of providing everyone the opportunity to invest in the development and delivery of electric mobility technology innovation in Africa."
To learn more about RevoltTOKEN, visit www.RevoltTOKEN.com.
For more information and to stay up to date on ALYI's 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.
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SOURCE Alternet Systems, Inc.