Skoda Auto Eyes India as Its Second Growth Pillar Amid Electric Vehicle Push
Skoda Auto plans to expand its presence in India as a 'second pillar' to diversify beyond Europe. The CEO, Klauss Zellmer, emphasized the focus on localizing the 'CMP21' platform for electric vehicles, alongside maintaining strong operations under the India 2.0 project. The strategy aims for long-term growth.
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In efforts to gain a stronger foothold in the growing Indian automotive market, Czech automaker Skoda Auto is planning to expand its operations in the country, according to CEO Klauss Zellmer. The initiative is part of the company's strategy to reduce dependency on the European market.
Skoda is preparing to localize its 'CMP21' platform, initially developed in China, for electric vehicles in India. This move underscores Skoda's commitment to developing India as a key market and not merely an offshoot of European business interests. The strategy constitutes part of the brand's ambitious India 2.0 project.
Previous efforts under the India 2.0 project have yielded positive results, with doubled sales and notable success stories like the Skoda Kylaq. Recent government GST rate cuts are also expected to benefit the automotive sector, providing a conducive environment for further growth and competition.
(With inputs from agencies.)
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