eTukTuk recently announced that it had signed a three-wheeled electric vehicle partnership with the Sri Lankan government. With this, Ituktuk becomes the first Binance Blockchain (BNB)-based automotive project to provide affordable electric vehicles to developing countries. A company official explained, “Our goal is to provide electric vehicle solutions to developing countries at a reasonable price.” The existing tuk-tuk is a popular means of public transportation, with more than 250 million registered vehicles worldwide. However, compared to internal combustion engine vehicles, they emit more carbon and are a major cause of air pollution. Accordingly, Ituktuk developed a three-wheeled electric vehicle to reduce carbon emissions and create a sustainable future, a company official explained. Ituktuk is currently ready to produce a three-wheeled electric vehicle and plans to produce Ituktuk EV within this year. In addition, the company announced plans to install and expand a network of electric vehicle charging stations, starting with Colombo, Sri Lanka. The development team explained, “Thanks to local production, Ituk Tuk’s operating costs will be reduced by 78% compared to traditional internal combustion engine Tuk Tuk vehicles,” and “Drivers will be able to reduce operating costs by up to 400%.” In addition, Ituktuk plans to issue TUK, a native token used for payment when charging electric vehicles and for purposes such as staking. The company said it will allow TUK token holders to receive a portion of network fees each time a driver pays for a recharge. Currently, ItukTuk is conducting a pre-sale of TUK, and the exchange rate per 1 TUK token is $0.026. According to the company, it is currently valued at $550,000 in pre-sales.