ALYI $300 Million African Electric Vehicle Initiative Surges Forward
Dallas, Texas--(Newsfile Corp. - July 10, 2020) - 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.
Japanese Venture Capital Into Africa
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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
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