Hoy - This is what the revolutionary electric taxi that will circulate in Madrid looks like

By the end of 2024, the first 10,000 taxis will be in circulation. Annual production in 2025 will be 45,000 units, reaching 100,000 units per year in 2027.

Gibraltar-based international company Etioca has presented the functional prototype ‘Miner’ to taxi drivers in the Spanish capital in Madrid in what was its second outing on the road in Spain, following a visit to Barcelona a few weeks ago. Fares for the use of the vehicle start at 0.36 euro cents per kilometre driven, but packages are also offered that include additional services such as battery replacement, daily car wash, insurance, maintenance and vehicle replacement in the event of a breakdown.
Currently, taxi drivers have the possibility to fill in a pre-booking form, which is available on the website www.etioca.com, where they can register for a payment of 100 euros. This amount allows the feasibility of the order to be managed and is returned to future drivers on the Etioca debit card on the day the vehicle is delivered to them, starting in 2024.
Etioca Taxi ‘Miner’, the first project of the Etioca ecosystem, comes after five years of analysis of the needs of the taxi sector and urban mobility trends. It is a vehicle designed for taxi drivers and loaned for their use, without the need for advance payments, and with daily electric charging (battery exchange), daily washing of the vehicle, insurance and ordinary and extraordinary maintenance. In fact, it is aimed at a new generation of entrepreneur-taxi drivers who are no longer obliged to buy a car, but can have it at their disposal for their use thanks to Etioca.

Likewise, taxi drivers who make a pre-booking will be registered in the Etioca application, which will reduce waiting times for customers through geolocation and enter the application’s network of users, who will be able to use the ‘Etioca ECO’ cryptocurrency (1 ECO is equivalent to 1 km travelled). Through this integrated system, each taxi driver will have the opportunity to receive cash back as a reward for having contributed to ‘mining’ each new Etioca digital currency. Etioca’s Fintech and Media system allows the taxi driver to increase his current turnover by 20%.
By the end of 2024, the first 10,000 ETIOCA taxis will be in circulation. Annual production in 2025 will be 45,000 units, and will reach 100,000 units per year in 2027. Etioca is seeking to increase investment to USD 400 million to start the industrial plan, and to reach USD 1.2 billion in the next three years. 90,000 pre-bookings are currently under negotiation in Italy (where the model is designed and built), Spain, Israel, Latvia, and to speed up production times, an agreement with an Italian strategic partner for the use of a production plant is in advanced stages of negotiation.