Alternet Systems Inc. (OTCMKTS:ALYI) fell 4%. The company announced that it would start fulfilling an existing order of around 2,000 electric motorbikes. In addition, alternate indicated that it would publish details regarding the expected revenue sources and certain revenue targets beyond 2021 on September 9, 2021.
The company is developing an entire EV ecosystem addressing with electric vehicle adoption sector from the continuous design of novel vehicles to the design of several digital and mechanical systems for the best-in-class vehicles. Equally, the company will build maintenance and charging infrastructure to support commercial and consumer vehicles.
Most importantly, Alternet has seeded a comprehensive overall EV Ecosystem Business Strategy focusing on the Electric Motobike business. The business is heavily pegged on the company delivering ride-sharing solutions in Africa to replace current fuel engine-powered taxi motorcycles with electric motorcycles. The motorcycle taxi market is expected to hit more than 29 billion in the next five years. So ALYIis worth keeping an eye on in the coming weeks.
Market Reaction:
On Wednesday, ALYI stock fell 4.05% at $0.0201 with more than 25.98 million shares, compared to its average volume of 20.77 million shares. The stock has moved within a range of $0.0193 – 0.0215 after opening the trade at $0.0214.
