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      Alternet (ALYI) Stock Rose 75%. How Did That Happen? - Stocks Telegraph

      By ST Staff

      Published on

      June 17, 2021

      1:31 PM UTC

      Alternet (ALYI) Stock Rose 75%. How Did That Happen? - Stocks Telegraph

      The value of Alternet Systems Inc (OTCPINK: ALYI) skyrocketed 74.63 percent to $0.0592 during the last session. In contrast to its average weekly volume of 34.36M shares, Alternet stock saw 145.69M shares traded in yesterday’s session. ALYI stock rose in response to the successful completion of an EV program with a dedicated design team.

      What was that EV initiative?

      Alternet Systems builds a perpetual electric mobility design and production continuum that brings together electric vehicle industry experts. In ALYI’s ecosystems, the first electric vehicle (ReVolt Electric Motorbike) will be launched first and the ecosystem will be designed to support it. Furthermore, the ALYI electric mobility ecosystem is largely concentrated in Africa due to the country’s low per capita transportation.

      Alternet announced today that the dedicated design team from MODUS Applied Innovations has completed a review of its electric motorcycle development program.

      • ALYI completed the review on Friday, June 11, 2021.
      • In support of ALYI’s overall electric vehicle program objectives, MODUS is working with iQSTEL on connected, state-of-the-art electric vehicle technology.
      • Following the completion of the review, the management of ALYI is optimistic that the company will continue with its EV Ridesharing and Self-Drive Rental pilot programs in Africa.
      • As part of management’s preparation for this Friday’s quarterly shareholders meeting, ALYI plans to provide additional information on the company’s overall business plan as well as updates on the EV Rideshare and Self-Drive Rental program.
      • As part of an order, ALYI will deliver 2000 electric motorcycles to Kenya for use in motorcycle taxis (boda).
      • As part of July’s delivery schedule, the rideshare service will undergo a pilot rollout phase.
      • According to estimates, the motorcycle ride-hail market in Africa is worth $4 billion.

      ALYI’s plan going forward:

      ALYI plans to expand its ride-sharing pilot program to include a self-drive rental service as well.

      ALYI plans to rent Electric Motorcycles in Kenya that can be unlocked via a mobile phone app, in much the same way that electric scooter company Bird rents electric scooters in urban areas.

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