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ALSET EHOME INTERNATIONAL INC.

(AEI)
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Alset EHome in Strategic Agreement With Tesla for Solar Panels, EV Chargers

06/21/2021 | 07:44am EDT

By Chris Wack

Alset EHome Inc., a U.S.-based property developer and a subsidiary of Alset EHome International Inc., entered into a strategic agreement with Tesla Inc. for an initial supply of Tesla PV solar panels, Powerwalls and electric-vehicle chargers to be installed at single-family homes.

The company said these Tesla products will be installed in 20 brand new, single-family homes at the Northpark Community in Porter, Texas. In addition to these 20 homes, Alset has 10 more homes under contract in the same community scheduled for closing at the end of this month.

Alset EHome said it plans to acquire an additional 70 units in the Houston area, targeting a total of 100 Ehome deliveries in 2021.

Alset at Black Oak homes are nearly sold-out, and development on future phases is progressing well, the company said.

Each Ehome will come with a Tesla vehicle to promote the use of electric vehicles for a sustainable lifestyle.

Alset EHome said it plans to develop more than 5,000 intelligently designed Ehomes in the next three to five years.

Alset EHome shares were up 48% to $7.26 in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

06-21-21 0944ET

Stocks mentioned in the article
ChangeLast1st jan.
ALSET EHOME INTERNATIONAL INC. 2.02% 2.02 Delayed Quote.-66.89%
TESLA, INC. 0.52% 714.63 Delayed Quote.1.27%
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Financials (USD)
Sales 2020 16,2 M - -
Net income 2020 -2,52 M - -
Net cash 2020 68,4 M - -
P/E ratio 2020 -19,8x
Yield 2020 -
Capitalization 68,0 M 68,0 M -
EV / Sales 2019 -
EV / Sales 2020 -1,06x
Nbr of Employees 22
Free-Float 89,3%
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Managers and Directors
Heng Fai Chan Chairman & Co-Chief Executive Officer
Tung Moe Chan Co-Chief Executive Officer
Rong Guo Wei Co-Chief Financial Officer
Wai Leung Lui Co-Chief Financial Officer
Wai Leung Wu Independent Non-Executive Director
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