Auto Co - Mark Ishakov presents Etioca

The Israeli entrepreneur Mark Ishakov presents Etioca - an electric vehicle for taxis and other uses, without buying or spending anything, payment only according to the distance traveled.

The Etioca company (ETIOCA) - an integrated enterprise for the production of a car and its marketing through a unique operating plan - presented the prototype of the model for production and its business plan in Milan. The entrepreneur, Israeli Mark Ishakkov, presented to the guests - journalists and media persons and later potential customers - the first concept for the model in question (in purple), a traveling prototype (in white), the partners and the unique business plan of this venture.

The Model

The concept and the prototype were designed by Giorgio Giugiaro - who founded the Ital Design studio (now owned by the Volkswagen Group) that designed about two hundred concept and production models - and by his son Fabrizio, who were also at the event and spoke. The production of the two units was done by Coggiola, the coachbuilder from Turin, whose main occupation is in the construction of research and development as well as the production of an initial prototype for the model, and to his credit since its creation (1966) over 1000 models - from the most basic to supercars and unique models (And there are also helicopters). It should be noted that Kogiola has valid production permits for all types of vehicles, from two-wheelers to heavy vehicles and buses, and this will be an integral part of Etioca’s production activities.

Composition

The vehicle at the base of the Atioka project is electric and is intended to be used as a taxi as well as a service vehicle in areas such as medical evacuation, police, transport from institutions, etc. This model, which was presented under the name ANNA (like the name of Ishakkov’s wife; also the name of the electric floor), is based on a cab A separate driver where the driver sits in the center; among other things, the car has cameras that replace the side mirrors and screens accordingly. The passenger section includes seven seats, and these can be inserted, rotated and removed as needed. Another place is designated for a wheelchair (more is possible, upon request), and in this context it should be noted that the vehicle has an automatic gate on both sides for entry/exit for people with disabilities. In the back of the vehicle, a removable base-tram for two pairs of bicycles (up to 100 kg). It is a fairly large vehicle, and its wheelbase is 350 cm. At this stage, it is one engine and front-wheel drive, for a maximum speed of 160 km/h, and it is possible that a version with two engines for dual drive will be offered in the future. The vehicle has two batteries for a total figure of 80 kWh and a cumulative range of 350 km. One is fixed for charging in both AC and DC (up to 70 kW), while the other is designed for quick replacement and is mounted on the front of the vehicle in a kind of pull-out drawer. The replacement process will be done in a dedicated trailer that will be placed in relevant locations, and will allow battery replacement within three minutes. The safety specification should be complete, allowing the vehicle to meet future requirements for autonomous driving in stage 4. In addition, the vehicle has a disinfection system that includes a UV lamp and a spray (nebulizer) after each use.

The Venture

Etioca is not aimed at selling the cars it produces, but at establishing a global system where taxi drivers will receive the vehicle (for a deposit of 100 euros) and pay only and exclusively according to the trip; The announced price is €0.99 per kilometer. This means that the driver not only does not spend his own money for the purchase, but also that charging the vehicle with electricity, maintenance, insurance and licensing and even the washing are at Atioka’s expense; The duration of the contract is for six years. The driver has a whole array of services that are supposed to make him money. An advertising sign mounted on the vehicle outside and screens inside; products for sale during the trip (drinks, for example); Payment in Etioca digital currency that will do the mining process; Cashback to the driver both for the trip and for the sale of the service and products. According to Etioca, this set of services will allow the driver to double his net income during the day. The demand for mobile outdoor advertising and targeted advertising inside the vehicle will increase, according to the people of Etioca, by 9% every year and will reach a value of 35 billion in 2027. Etioca will also establish an application for the traveling public to book trips. Passengers will also be reimbursed for purchases made in the taxi.

The Plans

Etioca is targeting production of 10,000 units in the second half of 2024, 45,000 units the following year and 100,000 units in 2027. According to Etioca every 15,000 units produced will bring in a billion euros. The people of Etioca said that during this period negotiations are underway regarding the orders of about 90,000 units in Italy, Latvia and Israel. It was also said that in order to produce the vehicle in the volumes in question, Etioca is working to use the production line of an existing factory. Etioca is aiming for an IPO in the NASDAQ in the first months of 2023. In addition, Atioka has committed to a social activity in which funds will be transferred to support children from birth to 18 years of age.