Following an internal review, the Chinese-derived SAIPA's Ario sedan has been announced as the new entrant to join the capital's taxi fleet.

Announcing the above, Mehdi Ebrahimi, deputy director of Tehran's Taxi Association, said based on an agreement between the association and SAIPA, the second largest Iranian car manufacturer, taxi drivers would be able to purchase the car at 550 million rials ($15,700), with a 230-million-rial ($6,600) down payment and monthly installments extending over 48 months at 16% interest, according to Asre Khodro.

The locally-produced Ario sedan was originally made by the Chinese carmaker Zotye under the name Z300, which was originally marketed in Iran as S300. The car was originally based off the back of the Japan-only Toyota's Allion sedan. The drive-train available in Iran runs on an automatic gearbox and uses 1.6-liter gasoline engine, according to SAIPA's declaration.

By Financial Tribune