India is emerging as a key manufacturing hub for the Skoda Group that will venture into the Vietnamese market, the Skoda Auto Volkswagen India Private Ltd said on Wednesday.
"India will play a key role in Skoda Auto's entry into the Vietnamese market. Assembly of the Made-in-India Skoda Kushaq and Slavia model will begin in Vietnam in 2024," the company said on Wednesday.
Close to 25 per cent of suppliers now also export to the Group globally. Exports remain a fundamental pillar of growth. The Group exports to 44 markets globally from India, the company said.
The Skoda Auto Volkswagen was formed following the merger of Volkswagen India Private Limited, Skoda Auto India Private Ltd and Volkswagen Group Sales India Private Limited.
The combined entity oversees the Indian operations of five brands -- Skoda Auto, Volkswagen, Audi, Porsche and Lamborghini.
According to Skoda Auto Volkswagen the year 2022 that went by turned out to be good as the company had sold 101,270 units while exports accounted for 33,397 units.
Sales were up 86 per cent year-on-year as compared to 2021.
Continuing with its aggressive product offensive, the Group introduced over 20 model updates through the year across its five brands.
"Our Made-in-India models are rapidly gaining popularity and universal recognition, for their world-class quality, robustness and stylish designs, and have opened new customer segments and markets for us. India is one of the key markets for the Group and will continue to contribute strongly to our global operations," Piyush Arora, Managing Director and CEO said.