The creators say the idea behind the vehicle was spontaneous. While on a trip to Monaco they found out that this small country doesn't have its own taxi service, according to Ukraine Today.

"Monaco is an innovative country, most of the cars there are electric, even the corporate and city ones. And that country is considered luxury as well. When we found out the taxis come from France, we decided to pitch an idea for an electric car - and here we are," said Andriy Bilyi, electric vehicle co-founder.

All of the parts including the engine and its components were made in Ukraine, the battery though is made in China. If this car goes into mass manufacturing, then the battery will be different depending on the needs and standards of the country the car is being shipped to. For now, the vehicle can only travel at a speed of about 70 km/h. There's hope that with more innovation that number will change.

Monaco has yet to sign any paperwork with the creators of this electric car but there are plans to travel through 25 European cities and find more investors in the upcoming months.

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