Alset EHome International (AEI) Announces a Strategic Agreement with Tesla (TSLA) for PV Solar Panels, Powerwalls and EV Chargers

June 21, 2021 8:06 AM EDT

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Alset EHome Inc. a US-based property developer and a subsidiary of Alset EHome International Inc. (NASDAQ: AEI), is pleased to announce a strategic agreement with Tesla Inc. (NASDAQ: TSLA) for an initial supply of Tesla PV Solar Panels, Powerwalls and EV Chargers to be installed at single-family homes. 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. Moving forward, there are plans to acquire an additional 70 units in the Houston area, targeting a total of 100 Ehome deliveries in 2021.

In addition, as homes in the first phase of one of Alset's flagship developments, Alset at Black Oak, are nearly sold-out, development on future phases is progressing well. Forging ahead, Alset strives to build a sustainable energy community with Ehomes featuring Tesla Solar PV Roof Panels, Tesla Powerwall and EV Chargers. A total of 650 homes are planned at this development, located in Magnolia, Texas, north of Houston.

The community will integrate a clean energy ecosystem encompassing housing, transport, and electricity; it will include an amenity center featuring organic, modular/vertical vegetable farming, a cafeĢ, visitor residences, infant/childcare clubs, and social events venue. Future homes will be built with energy efficient platforms supporting clean, sterilized airflow and advanced communication systems. Aligning with the vision of building a community founded on a sustainable carbon footprint, each Alset Ehome will come with a Tesla vehicle to promote the use of electric vehicles for a sustainable lifestyle.

Charley MacKenzie, the US CEO of Alset Ehome, Inc., commented: "We are delivering what we believe will be the model housing ecosystem of the future. As more people look to make sustainable choices in their selection of homes, we are keen on making the transition for our customers the easiest it can be. This will also help accelerate the world's transition to sustainable energy."

"Our plan is to develop over 5,000 intelligently designed Ehomes in the next 3-5 years. We are excited to develop the communities of the future in close collaboration with Tesla. Tesla's products are not only technologically superior but also aesthetically pleasing. In addition to our rollout in the US, we plan to expand our concept on a global scale," stated Mr. Chan Heng Fai, Chairman and Chief Executive Officer of Alset EHome International Inc.

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