Euro News - Start-up Etioca

Meet 'MINER' - The Electric Taxi of the Future - ETIOCA Founder Mark Ishakov.

Offering Hope for EV Company Investors

ETIOCA has also recently anounced the Industrial Pole, which consists of several plants for the production of its own vehicles, and of those required by partner companies or customers. It will be spread across different locations, including a pilot plant, an assembly plant, a production plant, and a Giga plant, with supplier plants around it.

“The ETIOCA business model is a unique ecosystem of electric vehicles equipped with a comprehensive range of services which create cash flow to support the evolution of mobility, to the benefit of the wellbeing and education of future generations. The ETIOCA ecoystem thrives on five integrated and independent areas: the Industrial Pole, services, users, fintech and media. This is the solid foundation of the strategic plan, and creates economic and financial value” says Ishakov.

ETIOCA says its ecosystem throws a lifeline to EV companies, many of which have struggled since their stock market listing.

“With partnership projects, these companies can restore the efficiency of their platforms, while supporting the industrialization of ETIOCA vehicles and, through the WMI (Worldwide Manufacturers Identifier) license, produce their own vehicles.”

“Some EV companies had great ideas, good design, innovative technologies and solutions, effective marketing, as well as having assembly plants and micro-factories. Their listing on the stock market, however, revealed how overestimated the promises they made to investors were. Some EV companies can only manufacture limited numbers of vehicles with an experimental license, not more than 500 units per year. This is a business model that does not allow them to return the investment and build a profitable enterprise, with its WMI license, ETIOCA can help salvage these companies and give back hope to their investors, enabling them to produce unlimited quantities of vehicles. ETIOCA is open to building strategic relationships and acquisitions for future integration into its ecosystem,” he adds.

Designed for the Next Generations

Ishakov and his team have grand ambitions for the company. They forecast 10,000 ETICA Taxi vehicles on the road by the end of 2024.

“Production will reach 45,000 units per year in 2025, and 100,000 in 2027, with an initial investment of 400 million USD, which will grow to 1,2 billion USD in the next 3 years. 90,000 pre-orders are currently under discussion in Italy, Israel, and Latvia. To speed up production times, an agreement with an Italian strategic partner for the use of a production facility is at an advanced stage of negotiation.”

Finally we asked Ishakov what will urban mobility look like by the end of thew decade.

“Urban mobility will be electric, hydrogen mobility still needs time, shared and designed to preserve historic centers from traffic and pollution. ETIOCA wants to become an important milestone toward a cleaner and more conscious future for the next generations,” he predicts.