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Škoda Auto Volkswagen India unveils plans for EV, Market Penetration expansion
Industry News- Dec 06,23
Company anticipates to elevate the capacity utilisation of its Aurangabad and Chakan plants to over 90%, a substantial increase from the current 70-75%.
Škoda Auto Volkswagen India is set to embark on a significant expansion in 2024, aiming to introduce both new models and updates to existing ones. The company plans to make a foray into the electric vehicle (EV) sector while concurrently boosting exports of cars manufactured in India. This strategic move is anticipated to elevate the capacity utilisation of its Aurangabad and Chakan plants to over 90%, a substantial increase from the current 70-75%. Piyush Arora, the Group Managing Director, highlights the pivotal nature of the upcoming year for Škoda's operations in India.
As part of the India 2.0 strategy unveiled in 2018, the Volkswagen Group committed a substantial investment of 1 billion euros to locally develop a range of models at various price points, with Skoda spearheading operations in India. Having achieved reasonable success with this strategy, the group is now in the process of finalising investments and timelines for the next phase of growth.
The roadmap for 2024 includes the launch of the new generation Superb, the flagship model, alongside a heightened focus on sport utility vehicles (SUVs) as a key component of the future product strategy in India. Beyond the Superb, Skoda plans to introduce a mid-size SUV, its maiden battery electric vehicle, and updates to existing models.
Despite the growing popularity of SUVs, Arora emphasises that sedans will continue to be favored, retaining a 10% share in the overall passenger car market. The sedan segment, comprising mid-size and compact sedans and hatches, remains resilient even as SUVs account for half of all passenger vehicles sold.
Data from the Society of Indian Automobile Manufacturers (SIAM) indicates a decline in passenger car (hatchback and sedan) sales in India, dropping to 940,267 units in the first eight months of 2023-24 from 1,020,946 units a year earlier. In contrast, SUV sales surged to 1,385,309 units between April and October, up from 1,123,708 units in the previous year.
Simultaneously, Škoda is gearing up to enter the battery EV market with the Eniyaq, an electric SUV designed for the Indian market, set to debut in the first half of 2024 after undergoing testing.
Source: Economic Times
Škoda Auto
Volkswagen India
2024 Expansion
New Models
Electric Vehicles
India Operations
SUV Strategy
Battery EV Market
Eniyaq
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