Czech carmaker Skoda Auto, a unit of Volkswagen Group, is planning to invest INR300 crore ($56.25m) in Indian operations to increase localisation and expand production.
According to Skoda, the investment will be utilized to enhance production depth and expand production capacity at the Aurangabad facility in Gujarat.
As part of the measures to fuel global growth for the company, the investment in India will help the company achieve its goal of 1.5 million units sales by 2018.
The Chech automaker has created a new line of leadership under a new organisation structure, including appointment of Sudhir Rao as the new managing director of the company and Kamal Basu as the head of marketing, while Ashish Deshpande has been elevated to the position of head of sales.
Having a strong image in the premium car market, Skoda is planning to enhance its reputation in the cheaper segment and working on its pricing to appease the larger audience.
The company will also focus on the dealership network in the country to increase its volume sales and target wider market.
