EVs are the future.
Electric Vehicles are an effective means to limit carbon emissions on the road. Luckily, a large number of drivers are realizing the impact of their carbon footprint and choosing EVs.
Being a green alternative to fossil-fuel vehicles, EVs have a growing demand. As the cost of development comes down with technological breakthroughs, early investment in EVs will prove to be highly lucrative.
In this article, we will look at the investment aspect of eTukTuk – an EV project dedicated to developing economies.
EVs are not just for the rich
At present EVs are limited to the rich. Given that combustion-engine vehicles make more sense than EVs to even people living in developed countries, their penetration in developing countries remains a distant dream.
Due to their low per-capita income, most people in developing countries can’t even afford a normal private vehicle. They mostly rely on public vehicles like buses, trains, and taxis for commutes. Three-wheeler taxis called Tuk-Tuks, in particular, are highly popular in these countries.
These small vehicles can carry two to three people at a time and provide hassle-free, cost-efficient journeys when compared to buses, trains, and car taxis. Everyday commuters and tourists prefer them for short rides.
Interestingly, these harmless-looking vehicles emit a substantially large share of carbon into the atmosphere. The carbon footprint of a Tuk-Tuk is higher than that of a car!
So it makes sense why eTukTuk chose Tuk-Tuks as its domain of operation.
eTukTuks are cost-efficient and eco-friendly
eTukTuk is an EV project that has been in development for the last 5 years, in stark contrast to fleeting cryptocurrencies. Its goal is to reduce air pollution and CO2-related health conditions in developing nations (and worldwide in the long run) by introducing a dynamic network that balances sustainability with scalability.
The launch of the project was driven by the fact that the number of internal combustion engine (ICE) vehicles is on the rise. There are 270 million Tuk-Tuks and other two- and three-wheelers worldwide. Shockingly, they all emit more CO2 than an everyday car and pose a greater threat to climate action.
Another reason is that energy prices have risen by as much as 50% in some countries. Some govts are also taking initiatives to make ICE vehicles obsolete. That would lead to the phasing out of Tuk-Tuk drivers. But with eTukTuks, drivers can give up to a 400% boost to their income.
eTukTuk’s affordable network of charging stations and proprietary electric vehicles offers a realistic solution.
Powered by a sustainable infrastructure
Territory Partners are an integral part of the eTukTuk ecosystem. With their help, the project will strategically place EVSE (Electric vehicle supply equipment) to ensure accessibility and frequency of charge.
The 250-kWh batteries are optimized for storage and performance, providing a reliable solution for traditional Tuk-Tuk drivers who might be apprehensive about entering the new domain.
The eventual goal of the project is to become fully self-sufficient from local power grids. Using solar-powered charging stations, the ecosystem will introduce a sustainable charging network and reduced costs to the ecosystem.
According to the white paper, the term ‘Territory’ refers to a region where eTukTuk will deploy EVSE and ZEVs. They will be installed and operated by infrastructure partners known as “Territory Partners”. Their involvement further brings down the costs by making use of intellectual capital. It slashes teething and start-up inefficiencies in the network to a great extent.
A P2P sharing economy with multiple utilities
eTukTuk hosts a peer-to-peer economy based on a reward system.
One of the key pillars of the shared economy is Territory Partners, who provide drivers with access to the network and earn rewards for operating the service. The rewards will accrue when EV drivers (not necessarily eTukTuk drivers) charge their vehicles at these charging stations.
The second pillar of the ecosystem is Power Stakers, who earn rewards in return for supporting the shared economy. In each jurisdiction the project operates in, opportunities will be open for stakers.
To build more awareness around the project and bring global users into the picture, eTukTuk is also developing a play-to-earn game. It will be an exciting source of side income.
The blockchain system that underpins eTukTuk will support seamless communication between the eTukTuk vehicle, charging stations, drivers, the mobile app, and the control center that manages the entire network.
eTukTuk is being built on the BNB Chain to take advantage of faster and cheaper transactions.
How to invest in eTukTuk?
Investors can join the opportunity opened up by eTukTuk with $TUK tokens.
Before it makes its way to public exchanges, the token will be available for purchase at gradually increasing fixed prices in the ongoing presale.
Widely referred to as the Tesla of developing economies, the project has the potential to generate high returns for early investors in 2024 and beyond. It works well as both a short-term investment (by crypto FOMO) and a long-term investment (with user expansion).
Staking is now live for presale participants with attractive rewards.