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Skoda-Auto Volkswagen India to invest Rs 15000 crore to set up EV plant in…
The investment is part of 1,20,000 crore investments that have been given the green light by the Maharashtra government.
Updated : Sep 07, 2024, 06:35 PM IST
 "Skoda-Auto Volkswagen India to invest Rs 15000 crore to set up EV plant in…")
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Skoda-Auto Volkswagen India has received approval from the Maharashtra government to invest Rs 15,000 crore to establish a manufacturing facility in Chakan.
The new investment is part of 1,20,000 crore investments that have been given the green light by the state government. Cabinet minister Devendra Fadnavis informed about the upcoming projects on X. Apart from Skoda-Auto Volkswagen, Toyota Kirloskar Motor also received a green light to build a new manufacturing facility in Maharashtra.
In a statement, Skoda Auto Volkswagen said, "Skoda Auto Volkswagen India Pvt. Ltd welcomes the Maharashtra State Government’s approval of the fresh investment of up to Rs 15000 crores. 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."
The company plans to use these funds in multiple ventures. This includes upgrading the production capacity, introducing new products into the market, and enhancing job opportunities by creating nearly 1,000 jobs in the state. Additionally, this investment aligns with the company's India’s 2.5 strategy.
As per Fadnavis' X post, the automaker plans to set up an EV and Hybrid car plant at Chakan.
One more BIG news for Maharashtra !
— Devendra Fadnavis (@Dev_Fadnavis) September 5, 2024
Huge investments of total
1,20,220 crore approved in today’s Cabinet Sub-Committee Meeting, with CM Eknath Shinde ji !
The detailed list of approved investments is as follows:
Tower Semiconductor with Adani Group at Taloja MIDC, Panvel… pic.twitter.com/DVI9z94WyU
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