（Cover image source: SKODA）
On March 24, Skoda reviewed its sales performance in 2020 and plans to invest €2.5 billion in emerging technologies over the next five years, of which €1.4 billion will be used for the development of electric vehicles.
Although Skoda’s sales revenue in 2020 was €17.1 billion, a decrease of 13.8% due to the pandemic, Skoda has delivered over 1 million cars worldwide for the seventh consecutive year, and its market share in Europe increased in 2020. For countries such as Russia and North Africa, Skoda plans to introduce the “India 2.0” model to tap into the potential of these markets.
Skoda plans to invest approximately €2.5 billion in emerging technologies over the next five years, of which approximately €1.4 billion will be used for the development and expansion of electric vehicles, approximately €650 million will be used to strengthen its digitalization, and €350 million will be invested in modernization of factories and production facilities.
Skoda CEO Thomas Schäfer hopes that Volkswagen will build a Giga factory in the Czech Republic.
2021 marks the 30th anniversary of Skoda’s joining the Volkswagen Group. As Volkswagen accelerates its electrification transformation, Skoda is also adjusting its strategy to align with Volkswagen’s plan. However, currently Skoda has no plan to abandon its profit direction mainly based on fossil fuel cars in the short term.
🔗Source: SKODA
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.