Dubai-based Cars Taxi Group will drive into two new markets this year by plying 1,000 more vehicles with an investment to the tune of more than Dh200 million, its chief executive said.
Abdullah Sultan Al Sabbagh said the company, which has presence in Malaysia, India, Kuwait and Qatar, is in the process to launch operations in Saudi Arabia and Singapore this year.
He said investments will not be less than Dh100 million in each country and add 500 taxis and recruit 60 employees in each country.
He made the comments recently while announcing the addition of another 55 hybrid taxis, growing the fleet size of existing Toyota Hybrid Camry between Dubai and Abu Dhabi to 100.
He revealed that the company plans to grow its hybrid taxi fleet to 7,000 in the UAE.
"We have 100 hybrid cars and plan to change 7,000 to hybrid from UAE roads in five years. Hybrid doesn't only save money but also reduces pollution. A hybrid car saves Dh55,000 in four years in fuel costs alone. If you take maintenance costs and the carbon emission, it's a good investment. The price of hybrid vehicle is higher than the normal car but it recovers in the long run,” he added.
"Our initial fleet of 29 Hybrid Camry vehicles has saved more than 278,916 litres of fuel over a period of 13 months, saving approximately 47g per kilometre in CO2 emission in the process, a significant benefit to the UAE environment. For us, the cost savings are substantial, with over Dh500,000 in fuel cost savings per year,” he added.
Alan Carpenter, General Manager of Sales and Marketing at Al Futtaim Motors, said hybrid cars not just cuts operational costs but the maintenance cost is also very low because its brake pads and tyres last longer.
Globally, cumulative Toyota hybrid vehicles sales have surpassed 7 million, resulting in approximately 49 million fewer tonnes of CO2 emissions.