Skoda Auto is betting on localisation and larger vehicles to drive growth in its second attempt to gain market share in India.
The Indian arm of the automaker, which merged with Volkswagen last year to form Skoda Auto Volkswagen India Pvt. Ltd., is looking to chart growth in the country with an investment of Rs 7,900 crore, Bernhard Maier, chief executive officer of Skoda and chairman of the company's board, told BloombergQuint in an interview.
India is still a “tender shoot” in the Volkswagen group's global business, he said, adding that it's the fastest-growing market in the world. “Although we have seen turmoil in the last 12-18 months, the market will come back,” Maier said. The company aims to bring four new sport utility vehicles by Volkswagen under its India 2.0 project.
The group will sell 100,000 cars in by 2025, he said.
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