A taximeter's a mechanical or electronic device installed in taxicabs and auto rickshaws that calculates passenger fares based on a combination of distance travelled and waiting time. It's the shortened form of this word that gives the "taxi" its name. History The modern taximeter was invented by German Wilhelm Bruhn in 1891, and the Daimler Victoria—the world's first meter-equipped (and gasoline-powered) taxicab—was built by Gottlieb Daimler in 1897. Taximeters were originally mecha… (More on Taximeter)