
The Maharashtra government has given Skoda-Auto Volkswagen India Pvt. Ltd. (SAVWIPL) permission to invest ₹15,000 crore in its Chakan manufacturing facility.
The fresh investment is a part of the ₹120,000 crore in investments approved by the Maharashtra government, which would enable several car and component manufacturers to open stores in the state in various locations for electric vehicles, semiconductors and other products. In addition to Skoda Auto Volkswagen India, the forthcoming plant of Toyota Kirloskar Motor in Maharashtra has also been approved by the state government.
Skoda Auto Volkswagen said that it will upgrade its production facilities, bring 1,000 jobs to the state and develop new products, including electric vehicles, with the fresh investment.
“Skoda Auto Volkswagen India Pvt. Ltd welcomes the Maharashtra State Government’s approval of the fresh investment of up to ₹15,000 crore. The investment aims to further enhance the Group’s product portfolio in the best interests of the Indian customers while also focusing on more sustainable mobility solutions. This includes among other things BEVs and the further improved next generation of ICE vehicles, manufacturing facilities upgrades, and creating additional jobs – both direct/indirect – and thereby fostering sustainable growth in the region. We will provide more details on the agreement at a later date”, Skoda-Auto Volkswagen said in a statement.