The firm is presently developing $300 million in electric vehicle projects in Africa targeting the shared-ride market. The company has signed orders for electric motorcycles with a sidecar to be produced in Kenya for shared-ride providers in Kenya
December 26, 2019. By News Bureau
AlterNet Systems, Inc. (ALYI) has announced a new interest in the company’s newly announced $100 million investment drive to fund locally specific electric mobility technology research and development and production.
The firm is presently developing $300 million in electric vehicle projects in Africa targeting the shared-ride market. The company has signed orders for electric motorcycles with a sidecar to be produced in Kenya for shared-ride providers in Kenya.
It had also recently announced a $100 million cryptocurrency investment strategy targeted at expanding beyond the company’s existing $300 million in EV projects in Africa. Following an announcement last week about new institutional commitment to ALYI’s initiative in Africa, the company has garnered new interest from notable investors in its $100 million investment initiative.
Last week ALYI announced securing institutional commitment to support an annual African electric mobility technology conference and symposium to advance the deployment of electric-powered transportation solutions specific to Africa. The focus includes environmental sustainability but also overall transportation efficiency applicable to the African transportation infrastructure, economy, and consumer.
ALYI CEO, Dr. Randell Torno, contends that the immediate opportunity for electric-powered transportation growth in Africa by far exceeds the electric-powered transportation opportunity anywhere else in the world and that the electric mobility technology innovations that will be developed for Africa will ultimately form the foundation of commercial electric-powered transportation everywhere. In short, Africa is the global proving ground for electric-powered transportation.
As ALYI now begins to assemble and promote the first African electric mobility technology conference and symposium targeted for the first quarter of 2021, the company emphasizes that the subject of electric transportation is far greater than the mere replacement of fossil-fueled cars with electric-powered cars. For instance, Volvo, Hyundai, Aston Martin and Porsche, to name only a few, have electric-powered vertical take-off and landing (VTOL) initiatives in the works. Uber’s ‘Uber Elevate’ program has slated deploying flying taxi services in Dallas, Los Angeles and Melbourne by 2023. ALYI is particularly focused on electric transportation solutions for the shared-ride market.
As a further example of the magnitude of the scope of electric mobility technology, the firm highlights the evolution of electricity production and storage. While electric storage for electric vehicles is dominated today by lithium batteries, the management doubts the longevity of lithium-based solutions. Battery technology, in general, is inefficient and lithium is volatile. Toyota and Hyundai already sell hydrogen fuel cell-powered cars where instead of a battery delivery electricity, a hydrogen fuel cell delivers electricity to the electric vehicle.
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