Skoda VW to invest Rs 10,000 crore under India 3.0 plan

The India 3.0 project focuses on the premium utility vehicles segment in India.

Skoda Auto Volkswagen India plans to expand its operations in India with an investment of Rs 10,000 crore as part of its India 3.0 plan. As per reports, the VW Group’s Indian subsidiary has received in-principle approval for the additional investment, paving the way for the introduction of new models.

According to a media report, the India 3.0 project focuses on the premium utility vehicles segment in India. Unlike the volume models launched under India 2.0, the company will now target premium SUVs and MPVs across electric, hybrid and ICE segments.

Skoda Auto VW India plans to introduce mid-size electric SUVs in the 4.3 to 4.8 meter category. These will be based on the CMP 21 platform, which is an affordable EV architecture designed for India.   

The India 3.0 plan has been in the works for some time but was delayed due to pending approvals from the parent company. It is said that the delay was partly due to issues within the VW Group and the Rs 11,526 crore tax demand by the Indian authorities.

Source: ET