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

ETIOCA was born in 2015 in London when its founder Mark Ishakov, after analysing the problems and needs of British taxi drivers for several years, envisioned an electric vehicle that could revolutionise urban mobility. Seven years later, the end result is 'MINER', its first prototype electric cab.

Auto Futures has been talking to Ishakov about the Gibraltar-based company's business model, and its plans to develop a whole mobility ecosystem.

'MINER', which was revealed in September 2022, is a multiservice electric taxi with a an emphasis on accessibility.

"ETIOCA MINER is a comfortable vehicle, easy to access, and free of architectural barriers. It features 7 seats, plus one for disabled passengers who can get onboard without the need of assistance, thanks to an automatic lifting platform. ETIOCA allows easy transportation of bulky leisure items such as bicycles, skis and snowboards," says Ishakov.

Many other features are available on board, such as digital screens to manage the available services, a payment terminal, a taxi shop, a minibar, chargers for all types of smartphones, and an online route map.

Assistance for cleaning and recharging the vehicle through rapid battery change (battery swap) will be available at dedicated stations. Dynamic advertising panels, featuring ETIOCA LED technology, are positioned on the sides and on top of the vehicle.

The company sees 'MINER' as the first of many vehicles built on its all-electric technology platform. 

"ETIOCA 'MINER' will be the first born in the 'ANNA' generation, a platform based on a modular architecture supporting different vehicle configurations. In the near future, 'ANNA' will produce a new range of service vehicles: taxis, work vehicles, school shuttles, emergency ve-hicles, security (fire and police) and defense vehicles."

Taxi drivers can benefit from the 'MINER' as they no longer need to buy a car. They can simply get it from ETIOCA on a subscription basis. Drivers can use the vehicle, and all related services, at €0.99 cent/Km.

"Furthermore users are constantly connected with a dedicated, high-tech ETIOCA APP, which allows passengers to book short and long-haul journeys. Through the ETIOCA APP, drivers are informed of incoming reservations and can oversee their workflow: it’s a tool that allows taxi drivers to focus on their work without any additional stress and make as many rides as possible per day. With the revenues from rides, on-board services and billboards, ETIOCA drivers can increase their revenues," explains Ishakov.

All transactions are handled through the ETIOCA Fintech system, which integrates a proprietary cryptocurrency and supports international bank transfers, financial loans, payments to and from customers and business partners.

"The use of a proprietary cryptocurrency guarantees the transparency of transactions and aims at increasing stability and avoiding any kind of speculation. The cashback option can also be activated."

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.