‘INDIA 2.0’: Volkswagen Group invests one billion euros in project led by ŠKODA AUTO

‘INDIA 2.0’: Volkswagen Group invests one billion euros in project led by ŠKODA AUTO

 

› Volkswagen Group is investing one billion euros in the implementation of the project

› Together, ŠKODA AUTO and Volkswagen will develop new models in the A0 segment for the Indian market

› The first model to appear as part of the project will be an A0 SUV – to be showcased in 2020

› Technical development of new products will predominantly take place in India to ensure closest proximity to the market

 

Mladá Boleslav / New Delhi, 2 July 2018 – ŠKODA AUTO CEO Bernhard Maier and Gurpratap Boparai, Managing Director of ŠKODA AUTO India Private Ltd, announced details of the ‘INDIA 2.0’ project at a press conference in New Delhi today.

Going forward ŠKODA AUTO is responsible for leading Volkswagen Group’s planned model campaign on the Indian market. Volkswagen Group is investing one billion euros into the implementation of the project, primarily between 2019 and 2021. To ensure closest-possible proximity to the market, a project centre is being set up in India where, for example, vehicle development will take place.

ŠKODA 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 ŠKODA AUTO India Private Ltd, added, "With the ‘INDIA 2.0’ project, ŠKODA 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 fulfils the stricter emission and safety standards that are expected to come into force in India in 2020."

Initially, ŠKODA AUTO is developing the sub-compact MQB A0 platform with a focus on India (MQB-A0-IN). In the second phase, ŠKODA will be assessing the possibility of exporting vehicles manufactured in India. ŠKODA and Volkswagen will develop several products based on this platform. The model campaign will begin in 2020 with an SUV.

To ensure that the planned models will fulfil the requirements of Indian customers to the utmost extent, ŠKODA AUTO is looking to be as close to the market as possible from the very start. The technical development of the new products will therefore predominantly take place in India. To this end, the car manufacturer plans to gradually create new jobs there.

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In existence since 1805, and across family generations, D’Ieteren seeks growth and value creation by pursuing a strategy on the long term for its businesses and actively encouraging and supporting them to develop their position in their industry or in their geographies. The group has currently three activities articulated around strong brands:

  • D'Ieteren Auto distributes Volkswagen, Audi, SEAT, ŠKODA, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles in Belgium. It is the country's number one car distributor, with a market share of around 21% and 1.2 million vehicles on the road at the end of 2017. Sales and adjusted operating result reached respectively EUR 3.3 billion and EUR 85.9 million in FY 2017.

 

  • Belron (54.85% owned) makes a difference by solving people’s problems with real care. It is the worldwide leader in vehicle glass repair and replacement, trading under more than 10 major brands including Carglass®, Safelite® AutoGlass and Autoglass®. In addition, it manages vehicle glass and other insurance claims on behalf of insurance customers. Belron is also expanding its services to focus on solving problems for people who need assistance with repairs to their vehicles and homes. Sales and adjusted operating result reached respectively EUR 3.5 billion and EUR 189.8 million in FY 2017.

     

  • Moleskine (100% owned) is a premium and aspirational lifestyle brand which develops and sells iconic branded notebooks and writing, travel and reading accessories through a multichannel distribution strategy across more than 115 countries. Sales and operating result reached respectively EUR 155 million and EUR 25 million in FY 2017.

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