Etuktuk – the world’s first automotive project built on Cardano – is set to Revolutionise mass transportation across the globe. Building a dynamic, multi-revenue ecosystem, it balances sustainability with innovation, offering an affordable and accessible alternative to internal combustion engine (ICE) vehicles.
The groundbreaking network will comprise charging stations and eTukTuk’s proprietary EV – a zero-emissions vehicle designed to reduce carbon emissions, noise pollution, and CO2-related health conditions across the developing world.
Affordability for the drivers is at the heart of eTukTuk’s mission. With up to 78% less operational expenditure (compared with the cost of ICE TukTuks), drivers will spend less money, and could earn up to 400% more in take-home pay. Domestic production and assembly will also keep costs low for drivers in each region, and the availability of finance will make adoption even more affordable.
Beginning in Sri Lanka in 2023, the network will begin its operations in Colombo where there are currently 1.2 million ICE TukTuks on the roads. Powered by blockchain technology, it will provide a viable alternative to dwindling fuel stocks and rising oil prices, as well as the opportunity to gain a digital identity for millions of people.
New Partnership Announced
eTukTuk has also announced its partnership with The Capital Maharaja Group (CMG). As the first-mover in the private sector across many industries, CMG is the number one privately held conglomerate in Sri Lanka, with more than 44 global partnerships. Their interests include Chemicals, ICT, Media, Entertainment & Communication, Personal Care and Consumer Products, Plastics, Infrastructure Projects, Shipping and Logistics, and Ceylon Tea.
Working with the Capital Maharaja Group will ensure first-hand expertise of eTukTuk’s first region and the insight into the Sri Lankan markets required for seamless growth of the network. George Cox, CMO at eTukTuk said, “The partnership speaks volumes to the potential of the network in Sri Lanka in the coming years.”
eTukTuk will be fueled by the TUK token, which will be used to power the growth of the network within Sri Lanka and other countries throughout Asia and Africa. Further information about “Power Staking” will be announced in the coming weeks, but participants can earn rewards for supporting the shared economy, as mentioned in eTukTuk’s White Paper.
eTukTuk aims to launch its operations later this year. Paired with The Capital Maharaja Group, they seek to ensure the smooth transition from ICE vehicles to eTukTuks initially throughout Sri Lanka in line with policies to abolish ICE vehicles by 2040.
eTukTuk also recently launched its ambassador program for community members to build awareness. Find out more on Telegram: https://t.me/etuktuk.
Check out eTukTuk online at https://etuktuk.io
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