The Dubai Taxi Corporation (DTC) said on Tuesday it has signed a deal to add 543 new vehicles to its fleet.
The unit of the Roads and Transport Authority (RTA), has inked an agreement with Al-Futtaim Motors, the exclusive distributor of Toyota vehicles in the UAE.
Under the deal, Al-Futtaim will supply 543 new Toyota Camry vehicles, a statement said without giving a value for the contract.
"This MoU culminates our 15-year joint cooperation and further strengthens and consolidates our strategic partnership," said Ahmed Hashim Bahrozyan, CEO of RTA Licensing Agency & head of the committee overseeing the DTC.
He added that Toyota vehicles account for the lion's share of the DTC fleet, amounting to 1,997 taxicabs.
"The DTC's confidence in Camry cars has grown over the past years, as these vehicles proved reliable, following years of operation with hundreds of thousands of kilometres done," he said.
Simon Frith, managing director at Al-Futtaim Motors, said: "This new agreement stands out as a clear testimony of the amazing reputation gained by Camry over generations, thanks to its low cost and exceptional value."
Last month, DTC said its total revenues exceeded AED1bn in 2011, representing a 22 percent rise on the previous year.
The company's expenditure rose to AED745m in 2011 from AED597.497m the previous year while total profits earned by the DTC increased from AED114.695m in 2010 to AED146m last year, a 28 percent hike.
The number of trips made by taxicabs in 2011 totalled 62.36 million, carrying 125 million passengers while the company's accident rate fell from 1.92 accidents per 100,000km in 2009 to 1.26 accidents per 100,000km in 2011.