Hyundai Nishat Motors (Urdu: ہیونڈے نشاط) is a Pakistani automobile manufacturer based in Lahore.[2][3] It is part of Nishat Group.
 | |
| Company type | Unlisted public |
|---|---|
| Industry | Automotive |
| Founded | 2017 |
| Headquarters | Lahore and Faisalabad in Pakistan |
Area served | Pakistan |
Key people | Hassan Mansha (CEO) |
| Products | Automobiles |
| Revenue |  Rs. 52.132 billion (US$180 million) (2023) |
 Rs. 2.854 billion (US$9.9 million) (2023) | |
| Rs. 1.226 billion (US$4.2 million) (2023) | |
| Total assets | Rs. 48.550 billion (US$170 million) (2023) |
| Total equity | Rs. 19.376 billion (US$67 million) (2023) |
| Owner | Sojitz (40%) Millat Tractors (15.86%) Adamjee Insurance (10%) DG Cement (10%) Nishat Mills (10%) Security Insurance (10%) |
| Parent | Nishat Group |
| Website | hyundai-nishat |
| Footnotes / references Financials as of 31 December 2023[update] [1] | |
Hyundai Nishat is the authorized assembler and manufacturer of Hyundai vehicles in Pakistan and began production from its Faisalabad plant in 2019.[4][5]
History
editHyundai returned to Pakistan in 2017 by partnering with Nishat Mills, a subsidiary of Nishat Group. Hyundai used to assemble cars in Pakistan until 2004, when their local partner Dewan Farooque Motors went bankrupt.[6]
Hyundai Nishat Motor signed an investment agreement with the Ministry of Industries and Production under the Automotive Development Policy 2016-21.[7][8]
Hyundai Nishat Motor launched Elantra sedan in March 2021.[9]
Products
editLocally manufactured
edit- Hyundai Elantra (sedan)[11][12]
- Hyundai Sonata (luxury sedan)[12]
- Hyundai Tucson (compact crossover SUV)[5][12]
- Hyundai Santa Fe (crossover SUV)[10]
- Hyundai Porter H-100 (light commercial vehicle/light truck)[12]
Imported
edit- Hyundai Staria (minivan)[12]
- Hyundai Ioniq 5
- Hyundai Ioniq 6
Discontinued
edit- Hyundai Santro (city car)
- Hyundai Shehzore (light truck)
See also
editReferences
edit- ^ "Hyundai Nishat Motors Annual Report 2023" (PDF). Retrieved 4 November 2024.
- ^ "HYUNDAI". hyundai-nishat.com.
- ^ "PM Abbasi breaks ground on Hyundai-Nishat vehicle assembly plant in Faisalabad". 20 December 2017. Retrieved 9 January 2018.
- ^ Haq, Shahram. "Hyundai Nishat Motors raring to go, but hybrid vehicles on the back seat". Retrieved 9 January 2018.
- ^ a b Staff Report (2021-01-05). "Hyundai Pakistan vows to boost production by100pc in Q1CY21". Profit by Pakistan Today. Retrieved 2021-01-05.
- ^ Farooq, Fatima (February 3, 2017). "Mian Mansha brings Hyundai cars back to Pakistan". Profit by Pakistan Today.
- ^ Reporter, The Newspaper's Staff (16 December 2017). "Hyundai Nishat signs pact with production ministry".
- ^ "Hyundai's Elantra and Sonata to Launch in Pakistan". Brecorder. 2020-12-10. Retrieved 2021-01-05.
- ^ "Hyundai reveals the price of its Elantra sedan | SAMAA". Samaa TV. Retrieved 2021-03-24.
- ^ a b "Hyundai Santa Fe Hybrid Launched". 3 October 2023. Retrieved 12 December 2023.
- ^ "Hyundai Elantra to be Launched in Pakistan in 2021". Brecorder. 2020-12-15. Retrieved 2021-01-05.
- ^ a b c d e "Hyundai to launch Elantra and Sonata in Pakistan | SAMAA". Samaa TV. Retrieved 2021-01-05.
External links
edit
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