Conca Ternana Oggi - The Etioca startup

The Etioca startup is aiming for the Nasdaq listing next year when it unveils the electric taxi

MILAN (Reuters) - The Etioca mobility startup aims to go public in the United States in the spring, the Etioca co-CEO said Thursday, unveiling a prototype of its all-electric seven-seater pilot plus… pilot. Taxi in Milan.

Founded and led by Israeli engineer Mark Ishakov and based in Gibraltar, Etioca will not sell its taxis but has a business model based on the fares that drivers pay to use them and on other services including media advertising and blockchain.

“The vehicles are not for sale, they will be given to drivers for use at an all-inclusive rate,” said co-CEO Roberto Fiorello, adding that Etioca currently expects to generate approximately $ 1 billion in revenue for every 15,000 vehicles. products.

“We want to go public on the NASDAQ,” he said.

Eteuka said in a statement that he had appointed New York-based investment bank Chardin to advise on the deal.

The company said it plans to invest around $ 1.2 billion over the next three years and aims to start production between late 2024 and early 2025, with a target of 45,000 cars in 2025 and 100,000 in 2027.

Renowned Italian designer Giorgetto Giugiaro will help Etioca develop trucks equipped with battery replacement technology and a modular platform that allows them to serve many purposes, including ambulances and fire, police or defense vehicles.

The company said it is currently in discussion on around 90,000 pre-orders in Italy, Israel and Latvia, adding that it is negotiating a deal with an Italian partner to use an existing facility to speed up production times.