Hyundai Nishat Motors

Hyundai Nishat Motor (Private) Limited

Company type	Unlisted public
Industry	Automotive
Founded	2017; 8 years ago (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)
Operating income	Rs. 2.854 billion (US$9.9 million) (2023)
Net income	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.com
Footnotes / references Financials as of 31 December 2023^[update] [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

• 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

• Hyundai Staria (minivan)[12]
• Hyundai Ioniq 5
• Hyundai Ioniq 6

Discontinued

• Hyundai Santro (city car)
• Hyundai Shehzore (light truck)

See also

• Automotive industry in Pakistan

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. 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. "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. "Hyundai to launch Elantra and Sonata in Pakistan | SAMAA". Samaa TV. Retrieved 2021-01-05.

External links

• Hyundai-Nishat