- Alternet Systems Inc ALYI executed a new agreement to sizably expand its overall electric vehicle (EV) ecosystem vision and strategy.
- The agreement represented an EV deployment sector expansion beyond ALYI's current rideshare entry point extending its geographic expansion opportunity beyond the current East African concentration.
- The multitiered deal included a new strategic investment into ALYI and could be balance sheet accretive over the next year. The company will elaborate on the agreement in its pending FY2020 annual report.
- Alternet recently confirmed launching its rideshare electric motorcycles in Africa.
- Price action: ALYI shares traded higher by 9.94% at $0.078 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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