Shares of Alset EHome International Inc. (AEI) are rocketing on the charts today. At last check, the Alset stock was trading at $7.43, up 51.32%. Alset shares dropped -3.73% and closed the day at $4.91 on Friday. AEI stock had a trading range of $4.76 to $5.082 on Friday. AEI stock has a 50-day moving average of $6.74, which is operating at an RSI of 44.45. AEI stock is up following its strategic partnership with Tesla.

AEI collaborated with Tesla for what purpose?

Alset develops, sells, manages, and leases residential properties primarily in the United States. although it may branch out to develop and manage other property types in the near future. Alset at Black Oak and Ballenger Run are AEI’s two flagship developments, located in Texas and Maryland, respectively. More than 750 homes have already been built by AEI in partnership with other companies, including Rausch Coleman Homes and NVR, Inc.

Alset As part of a strategic agreement with Tesla Inc., Alset EHome Inc., a United States-based property developer and AEI-subsidiary, today announced its intention of installing Tesla PV solar panels, an electric vehicle charging station, and powerwalls in single-family residences (“Ehomes.”).

• There will be 20 new, single-family homes constructed by AEI at Northpark Community in Porter, Texas, which will be equipped with Tesla products.
• Alset has taken contracts on 10 more homes in the same community, which are expected to close at the end of this month.
• In the coming years, AEI intends to acquire 70 more units in Houston, aiming to deliver a total of 100 Ehomes by 2021.
• As a result, the development of future phases of Alset at Black Oak, one of the company’s flagship developments, is progressing well since homes in the first phase are almost sold out.
• As a pioneer in sustainable energy, Alset offers homes with Tesla Solar PV Roof Panels, Tesla Powerwalls, and EV Chargers to provide a sustainable energy community.
• This residential development, located in Magnolia in north-central Texas, is expected to have 650 homes.
• Alset Ehomes will be accompanied by a Tesla vehicle to promote electric vehicle use for a sustainable lifestyle, aligning with the company’s vision of creating a community built on the principle of a small carbon footprint.

AEI’s plans moving forward:

By the end of the next 3 to 5 years, Alset EHome (AEI) hopes to have built over 5,000 intelligently designed Ehomes. Following this strategic partnership, AEI will form close relationships with Tesla in order to create the communities of the future.