Dallas, TX – August 21, 2020 – – Alternet Systems, Inc. (OTC PINK: ALYI) today revealed its long-term strategy to enter into electric vehicle (EV) international racing. An EV racing initiative has been underway at ALYI for two years and in the coming weeks, the company expects to make details of the initiative public.
ALYI management emphasis that it is not inventing a new strategy with its entry into EV racing. Automobile manufacturers have participated in racing for over 100 years to advance automobile technology and build brand recognition. ALYI’s EV racing objective is just that – to advance EV technology and build ALYI brand recognition. And while the company may not be inventing the racing strategy, look for ALYI to introduce some innovative new twists.
The movie Ford v Ferrari starring Matt Damon and Christian Bale as auto engineer Carol Shelby and race driver Ken Miles is a notable recent example of how racing contributes to technological advances and branding.
ALYI expects to be in production by year-end on its first electric vehicle. The company has electric vehicle agreements anticipated to generate $300 million in revenue. ALYI has a long-term strategy to introduce a line of electric vehicles starting with the ReVolt Electric Motorcycle targeted for fleet deployment into the African Ride-Share market.
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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