Hyundai Nishat ( ur, ) is a Pakistani

automobile A car or automobile is a motor vehicle with Wheel, wheels. Most definitions of ''cars'' say that they run primarily on roads, Car seat, seat one to eight people, have four wheels, and mainly transport private transport#Personal transport, pe ...

manufacturer and joint venture between

Hyundai Hyundai is a South Korean industrial conglomerate ("chaebol"), which was restructured into the following groups: * Hyundai Group, parts of the former conglomerate which have not been divested ** Hyundai Mobis, Korean car parts company ** Hyundai ...

and Nishat Mills, based in Faisalabad,

Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 24 ...

. Hyundai Nishat is the authorized assembler and manufacturer of

vehicles in Pakistan and began production from its Faisalabad plant in 2019.

History

Hyundai returned to Pakistan in 2017 by partnering with Nishat Mills, a subsidiary of

Nishat Group Nishat Group ( ur, ) is a Pakistani multinational conglomerate company which is based in Lahore, Pakistan. The company was founded by Pakistani business magnate Mian Muhammad Yahya in 1951. Mian Muhammad Mansha is the current chairman of the gr ...

. Hyundai used to assemble cars in Pakistan until 2004, when their local partner Dewan Farooque Motors went bankrupt. Hyundai Nishat Motor signed an investment agreement with the Ministry of Industries and Production under the ''Automotive Development Policy 2016-21''. The intent of the government is to shake up the Japanese-dominated car market and loosen the grip of

Toyota is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...

Honda is a Japanese public multinational conglomerate manufacturer of automobiles, motorcycles, and power equipment, headquartered in Minato, Tokyo, Japan. Honda has been the world's largest motorcycle manufacturer since 1959, reaching a product ...

and

Suzuki is a Japan, Japanese multinational corporation headquartered in Minami-ku, Hamamatsu, Japan. Suzuki manufactures automobiles, motorcycles, All-terrain vehicle, all-terrain vehicles (ATVs), outboard motor, outboard marine engines, wheelchairs ...

, who assemble cars in Pakistan with local partners.

Industry Competition

Kia Lucky Motors,

MG JW Automobile MG JW Automobile Pakistan Pvt Ltd operating as MG Motors Pakistan is a Pakistani automobile manufacturer and joint venture between JW-SEZ Group and SAIC motors. History MG JW Automobile Pakistan is owned by JW Auto Park, which in turn owned ...

and Changan Automobile are also launching new models keeping competition alive for Hyundai. In response to the competition, Hyundai Pakistan is expected to hike production by 100 percent in the first quarter of 2021.

Product Competition

Hyundai Nishat Motor launched Elantra sedan in March 2021. Elantra will give tough competition to

Corolla and

Civic Civic is something related to a city or municipality. It also can refer to multiple other things: General *Civics, the science of comparative government *Civic engagement, the connection one feels with their larger community *Civic center, a comm ...

. Hyundai Nishat Motor launched Santa Fe mid-size SUV to give tough competition to Kia Sorento and

Toyota Fortuner The Toyota Fortuner, also known as the Toyota SW4, is a mid-size SUV manufactured by the Japanese automaker Toyota since 2004. Built on the Hilux pickup truck platform, it features two/three rows of seats and is available in either rear-wheel d ...

Operations in Pakistan

In April 2022, the owner of Hyundai Nishat Motors announced that they were considering importing car parts from India to reduce the production cost of their vehicles. In September 2022, it was reported that the company had witnessed a massive rise in sales.However, in October 2022, the prices of Hyundai cars increased in Pakistan after the imposition of new taxes, resulting in higher costs for manufacturers and consumers. In November 2022, Hyundai Nishat Motors jacked up car prices again by up to PKR 500,000 in Pakistan.Despite the price hike, Hyundai Nishat Motors' sales remained strong, indicating the high demand for their vehicles in the Pakistani market.

Products

Locally Manufactured

* Hyundai Elantra ''(sedan)'' * Hyundai Sonata ''(luxury sedan)'' * Hyundai Tucson ''(compact crossover SUV)'' * Hyundai Porter H-100 ''(light commercial vehicle/light truck)''

Imports

Hyundai Staria The Hyundai Staria ( ko, 현대 스타리아) is a 5-door van and minivan manufactured by Hyundai since 2021. It was introduced as the successor to the Starex, ditching the rear-wheel-drive layout from the Starex to a front-wheel-drive-based plat ...

''(minivan)''

Discontinued

* Hyundai Santro ''(city car)'' * Hyundai Shehzore ''(light truck)'' *

Hyundai Santa Fe The Hyundai Santa Fe ( ko, 현대 싼타페) is a sport utility vehicle (SUV) produced by the South Korean manufacturer Hyundai since 2000. It is named after the city of Santa Fe, New Mexico, and was introduced for the 2001 model year as Hyundai ...

''(SUV)'' * Hyundai Ioniq ''(hybrid car)''

References

External links

Hyundai-Nishat
Hyundai Motor Company Nishat Group Car manufacturers of Pakistan Pakistani companies established in 2017 Pakistani subsidiaries of foreign companies Manufacturing companies based in Lahore Vehicle manufacturing companies established in 2017 {{Pakistan-company-stub