Skoda-Auto Volkswagen Gets Approval for ₹15,000 Crore Investment Expansion in Maharashtra

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Skoda-Auto Volkswagen India Pvt. Ltd. (SAVWIPL) has received approval from the Maharashtra government for a substantial investment of ₹15,000 crore, marking a significant development for the auto industry in India. This investment is part of a broader ₹1,20,000 crore initiative approved by the state government, which also includes Toyota Kirloskar Motor’s new manufacturing facility.

Cabinet Minister Devendra Fadnavis announced the approval on X (formerly Twitter), highlighting the scale of the investment and its potential impact. The funds will be used to establish a new manufacturing facility in Chakan, Maharashtra, aimed at boosting production capacity and advancing the company’s strategic goals in the Indian market.

Skoda-Auto Volkswagen India expressed its enthusiasm for the approval, stating that the investment will enhance the group’s product portfolio and support sustainable mobility solutions. The company plans to focus on the development of Battery Electric Vehicles (BEVs), next-generation Internal Combustion Engine (ICE) vehicles, and upgrading its manufacturing facilities. Additionally, the investment is expected to create approximately 1,000 new jobs, both directly and indirectly, contributing to regional economic growth.

The company’s commitment to the India 2.5 strategy will drive these efforts, aligning with the broader industry trend towards electric and hybrid vehicle production. Skoda is also preparing to launch a new sub-4m compact SUV, which will feature Volkswagen’s design elements. Furthermore, Volkswagen and Mahindra are collaborating on a future electric vehicle platform, showcasing their ongoing commitment to innovation and sustainability in the automotive sector.

Skoda-Auto Volkswagen’s investment in Maharashtra underscores the growing importance of India as a key market for global automotive companies and reflects the state’s attractiveness as a hub for manufacturing and innovation.

Sources By Agencies