Hinopak Motors (Urdu: ہینو پاک موٹر) is a Pakistani truck and bus assembler based in Karachi. It is a subsidiary of Hino Motors.[2] Its assembly plant is located at S.I.T.E Industrial Area.[3]

It is listed on the Pakistan Stock Exchange.

History

Hinopak was formed in 1985 by Hino Motors, Toyota Tsusho, Al-Futtaim Group and Pakistan Automobile Corporation.[4] In 1988, it was listed on the Karachi Stock Exchange.[5]

In 1998, Hino Motors, and Toyota Tsusho Corporation obtained majority shareholding in the company after disinvestments by the other two founding investors.[6] Hinopak Motors has a 70% market share in Pakistan, and gained its highest-ever after-tax profit in FY~2018-19.[7][8][9]

Operations in Pakistan

In 2021, HinoPak Motors signed a solar power purchase agreement with UAE-based solar energy company, Yellow Door Energy. The agreement aimed to reduce the company's reliance on grid power and offset approximately 15% of its energy consumption. Yellow Door Energy installed a 4.4 MW solar power system at HinoPak Motors' manufacturing plant in Karachi, which is expected to generate 6.8 million kWh of clean energy annually and reduce carbon emissions by approximately 5,200 tons per year. HinoPak Motors' sustainability efforts include reducing its carbon footprint and increasing energy efficiency.[10]

Later in 2021, HinoPak announced a profit of Rs. 358 million. This is a significant improvement compared to the previous year when the company reported a loss of Rs. 713 million. The positive results were attributed to increased sales volume and improved operational efficiency.[11]

Products

Buses

Trucks

300 series/Hino Dutro

500 series/Hino Ranger

Prime movers

CSR

HinoPak Motors manages a school under the Pakistan Corporate Social Responsibility Program.[12]

See also

References

  1. ^ "Hinopak Motors Annual Report 2023". Retrieved 24 May 2024.
  2. ^ "Corporate results: Hinopak Motors profit rises to Rs381m". The Express Tribune. Retrieved 30 June 2016.
  3. ^ "Results: Hinopak switches to profit from loss". The Express Tribune. Retrieved 30 June 2016.
  4. ^ "The Landscape of the Auto Industry in Pakistan". Brecorder. March 16, 2023.
  5. ^ "Automobile Assembler: HINOPAK MOTORS LIMITED - Year Ended December 31 2005". Brecorder. May 6, 2006.
  6. ^ "compinfo". hinopak.com.
  7. ^ "Turnaround in Hinopak". Dawn. Retrieved 30 June 2016.
  8. ^ "On the right road: Hinopak Motors driving away with huge profits". The Express Tribune. Retrieved 30 June 2016.
  9. ^ "Market watch: Index suffers from Monday blues". The Express Tribune. Retrieved 30 June 2016.
  10. ^ Content, Sponsored (2022-10-13). "Hinopak Motors signs solar power purchase agreement with Yellow Door Energy". Brecorder. Retrieved 2023-03-13.
  11. ^ Research, B. R. (2021-02-23). "Hinopak Motors Limited". Brecorder. Retrieved 2023-03-13.
  12. ^ "Over 150 students help make their school more colourful". The Express Tribune. Retrieved 30 June 2016.

External links