Industry/Official

VW Group to invest 1 billion euros in India, 5000 new jobs

Volkswagen-Group-Skoda-India-2.0-7900-Crore-Investment

This is the continuation of the story where we read that Skoda will lead the model campaign in India on VW Group’s behalf under ‘India 2.0’ project.

The Volkswagen Group has now announced that the company will be investing one billion euros into the implementation of the aforementioned project, primarily between 2019 and 2021.  A project centre is also being set up in the country where the vehicle development will take place.

Speaking of the vehicle, it is going to be a (compact) SUV based on the MQB-A0-IN platform – a derivative of MQB A0, and the company expects to showcase the SUV in 2020. The model campaign will begin with this SUV which appears to be a Creta rival, and both Skoda and Volkswagen might sell it under the respective brands.

Volkswagen-Group-Skoda-India-2.0-7900-Crore-Investment-5000 jobs

The Group expects the investment to create 4000 to 5000 direct and indirect employment opportunities.

Skoda Auto CEO Bernhard Maier said, “Experts predict that in the next few years India is going to become the third-largest automotive market worldwide. With our ‘INDIA 2.0’ project we are now creating the right conditions for sustainable growth there. Our objective is ambitious, but achievable: together with the Volkswagen brand, we are seeking a market share of up to five per cent in the long term, depending on market and segment development.”

Gurpratap Boparai, Managing Director of Skoda Auto India Private Ltd, added, “With the ‘INDIA 2.0’ project, Skoda Auto and Volkswagen Group are in an excellent position to optimally confront the dynamics of the Indian car market. In India, we will offer top-class products at prices that amount to a paradigm shift in the automotive industry. We will manufacture the new products locally based on the heavily localised MQB A0 platform, which already fulfills the stricter emission and safety standards that are expected to come into force in India in 2020.”

Also Read: Volkswagen: T-Cross will be more than one thing

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