Skoda Auto Volkswagen India has received the nod from the Maharashtra government and will invest ₹.15,000 crore at its Chakan plant for future expansion.
SAVWIPL will invest in developing electric and hybrid vehicles, improving ICE vehicles, and upgrading manufacturing facilities.
Skoda-Volkswagen is planning to bring EVs and has been testing the Enyaq and ID4 for a long time. The automaker also has facelifts lined up of its existing model range.
Reports suggest SAVWIPL is looking for an Indian partner to expand its domesticoperations. The company is said to be nearing an agreement with Mahindra.
Toyota has also received the nod from the Maharashtra government for its upcoming plant in the state. The company will be investing ₹.21,273 crore towards its fourth plant in India.