Alternet Systems Electric Motorbike Operation Targets $800 Million Market Sector
DALLAS, September 4, 2018 /PRNewswire/ --
Alternet Systems, Inc. (ALYI) today announced plans for its electric motorbike subsidiary, ReVolt Electric Motorbikes, to independently raise investment funds to support a substantial expansion as the company pursues the rapidly expanding electric scooter and motorcycle market. Uber recently announced a shift away from cars to electric bikes and scooters for short trips. Intercity electric scooter service providers such as Lime and Bird have already reached billion-dollar valuations. The North American market for electric scooters is expected to reach $795 billion by 2025. Alternet's ReVolt subsidiary has set its sights on the much larger two wheeled electric vehicle market in emerging and developing markets. ReVolt is founded on Alternet Systems overarching strategy introduced last year to commercialize advanced energy storage technologies by integrating the technologies into specific products and services. Alternet's ReVolt has its first electric motorcycle in pilot production now.
Alternet recently published its Q2 2018 financial report with a statement from management on the company's latest progress and developments. The company has established its first contracts and is generating early stage revenue. The company plans to launch a new website later this week with more details on the its latest advanced energy storage developments, progress with ReVolt Electric Motorbikes and other projects underway to commercialize advanced energy storage technologies.