Skoda Plugs into India's EV Future with New Electric Models

Škoda Auto Volkswagen India is set to embark on a dynamic transformation in 2024, unveiling new models and venturing into the electric vehicle (EV) sector. The automotive giant plans to enhance its presence in the market by increasing exports of Indian-made cars while ramping up capacity utilization at its Aurangabad and Chakan plants in Maharashtra to over 90%, a significant leap from the current 70-75%.

Aligned with its India 2.0 strategy, the Volkswagen Group has committed a substantial investment of one billion euros to locally develop diverse models, with a specific focus on the Skoda brand in its Indian operations. The Group is currently formulating investment plans and timelines for the upcoming growth phase.

Anticipating a strategic shift towards SUVs as the cornerstone of its future product strategy in India, the company is poised to introduce the next generation of its flagship model, the Superb, in 2024. Additionally, Skoda is gearing up to make its mark in the battery EV market with the launch of the Eniyaq, an electric SUV, slated for the first half of 2024.

Recognizing the importance of a robust dealer network, the company is prioritizing restructuring efforts and placing a greater emphasis on exports, particularly to Southeast Asia. With an ambitious target, the Group aims to secure a five percent market share by 2025-26, signaling a strategic commitment to establish a more substantial and influential presence in India's dynamic automotive sector.

News by Rahul Yelligetti