Hyundai Nishat Motors

Hyundai Nishat Motor (Private) Limited
Company typeUnlisted public
IndustryAutomotive
Founded2017; 8 years ago (2017)
HeadquartersLahore and Faisalabad in Pakistan
Area served
Pakistan
Key people
Hassan Mansha (CEO)
ProductsAutomobiles
RevenueDecrease Rs. 52.132 billion (US$180 million) (2023)
Increase Rs. 2.854 billion (US$9.9 million) (2023)
Increase Rs. 1.226 billion (US$4.2 million) (2023)
Total assetsDecrease Rs. 48.550 billion (US$170 million) (2023)
Total equityIncrease Rs. 19.376 billion (US$67 million) (2023)
OwnerSojitz (40%)
Millat Tractors (15.86%)
Adamjee Insurance (10%)
DG Cement (10%)
Nishat Mills (10%)
Security Insurance (10%)
ParentNishat Group
Websitehyundai-nishat.com
Footnotes / references
Financials as of 31 December 2023 [1]

Hyundai Nishat Motors (Urdu: ہیونڈے نشاط) is a Pakistani automobile manufacturer based in Lahore.[2][3] It is part of Nishat Group.

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

Hyundai 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]

Hyundai Nishat Motor launched Santa Fe mid-size SUV.[10]

Products

Locally manufactured

Imported

Discontinued

See also

References

  1. ^ "Hyundai Nishat Motors Annual Report 2023" (PDF). Retrieved 4 November 2024.
  2. ^ "HYUNDAI". hyundai-nishat.com.
  3. ^ "PM Abbasi breaks ground on Hyundai-Nishat vehicle assembly plant in Faisalabad". 20 December 2017. Retrieved 9 January 2018.
  4. ^ Haq, Shahram. "Hyundai Nishat Motors raring to go, but hybrid vehicles on the back seat". Retrieved 9 January 2018.
  5. ^ a b Staff Report (2021-01-05). "Hyundai Pakistan vows to boost production by100pc in Q1CY21". Profit by Pakistan Today. Retrieved 2021-01-05.
  6. ^ Farooq, Fatima (February 3, 2017). "Mian Mansha brings Hyundai cars back to Pakistan". Profit by Pakistan Today.
  7. ^ Reporter, The Newspaper's Staff (16 December 2017). "Hyundai Nishat signs pact with production ministry".
  8. ^ "Hyundai's Elantra and Sonata to Launch in Pakistan". Brecorder. 2020-12-10. Retrieved 2021-01-05.
  9. ^ "Hyundai reveals the price of its Elantra sedan | SAMAA". Samaa TV. Retrieved 2021-03-24.
  10. ^ a b "Hyundai Santa Fe Hybrid Launched". 3 October 2023. Retrieved 12 December 2023.
  11. ^ "Hyundai Elantra to be Launched in Pakistan in 2021". Brecorder. 2020-12-15. Retrieved 2021-01-05.
  12. ^ a b c d e "Hyundai to launch Elantra and Sonata in Pakistan | SAMAA". Samaa TV. Retrieved 2021-01-05.


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