Latest news with #KlausZellmer
Yahoo
31-03-2025
- Automotive
- Yahoo
Hot new Skoda Elroq vRS to be revealed next week
Bright paint and more aggressive styling will mark the hot Elroq out Skoda will reveal the new Elroq vRS next week as the second electric car from its sporting sub-brand - and it's set to be one of the company's most powerful cars yet. To be unwrapped next Thursday morning (3 April) before a public debut at the Milan Deign Week a few days later, the Skoda Elroq vRS will be the latest entrant into a growing class of sporting electric crossovers, going up against the likes of the Mini Aceman JCW, Alfa Romeo Junior Elettrica Veloce and Abarth 600e. The Czech firm has released a preview image that confirms the "most dynamic Elroq model" will be available in the vRS sub-brand's trademark Hyper Green paint and said it will be further marked out from the standard car by a raft of contrasting black trim elements. No technical details have been given yet, but the Elroq is closely related to the Volkswagen ID 3 and Cupra Born, so the vRS version is likely to use the same powertrain components as the hot versions of those cars. The Cupra Born VZ and Volkswagen ID 3 GTX are both equipped with the Volkswagen Group's new 'AP550' motor on the rear axle, providing up to 322bhp. That figure would make the Elroq vRS only very slightly less powerful than the dual-motor, 335bhp Skoda Enyaq vRS. The rear-driven Born and ID 3 range-toppers can hit 62mph from rest in as little as 5.6sec, and while the slightly taller and longer Elroq is unlikely to quite match that, it could still come in at under 6.0sec to outpace the ICE Skoda Octavia vRS. The fastest Elroq will be the fourth vRS model in Skoda's line-up, joining similarly conceived range-toppers for the Octavia, Enyaq and Kodiaq. Skoda hasn't shared any official plans for more fast models beyond the Elroq, but CEO Klaus Zellmer recently told Autocar that vRS will remain an important part of its business. "This is something that is our DNA," he said of the 24-year-old sub-brand. "We will keep it and you can't neglect that. You cannot get rid of that." Another possible addition to the portfolio is a warmed-up version of the upcoming Skoda Epiq electric supermini, which would no doubt share its innards with the planned Volkswagen ID 2 GTI. ]]>
Zawya
14-03-2025
- Automotive
- Zawya
VW's Skoda to invest in manufacturing EVs in India despite $1.4bln tax demand overhang
Skoda Auto plans to manufacture electric cars in India and will invest in the country by itself if its search for a local partner fails, the Czech carmaker's CEO said, as its parent Volkswagen Group fights a $1.4 billion tax demand case. VW's local unit Skoda Auto Volkswagen India is embroiled in a legal tussle with the country's tax department over allegations that it misclassified imports of some Audi, VW and Skoda cars to evade higher duties. If the company loses the battle, against what it calls an "impossibly enormous" demand, it will need to fork out $2.8 billion including penalties and interest, which could become a matter of survival, one of VW's lawyers said last month. CEO Klaus Zellmer told the media this week that he was unable to comment on the "ongoing, very critical procedure", but that Skoda is targeting India as it looks to the world's third-largest car market for growth outside Europe. "(It) is still our will and our strategy to form a joint venture to be even stronger in India ... but if there's no right partner we stay single and be still attractive and successful," he told reporters at a post-earnings press conference. Skoda has been leading Volkswagen's India strategy since 2018, but sales have remained low with the Volkswagen and Skoda brands together accounting for just 2% of India's 4 million units a year car market. But with stricter vehicle fuel efficiency standards set to kick in from 2027, all carmakers will have to introduce EVs, and Skoda believes its access to the Volkswagen Group's EV technology might give it an edge. "We can offer very innovative, very cost efficient solutions for battery electric vehicles, and this is our strategy also for India," Zellmer told reporters on the virtual call. Skoda has an agreement with India's Mahindra & Mahindra to supply some EV components. Zellmer did not name Mahindra or any other company in terms of potential collaborators, but said talks were ongoing with partners with "local roots". India, where small cars from Suzuki Motor and Hyundai dominate the roads, has proved a difficult market for Western carmakers. But Skoda, which no longer has a big presence in China and exited Russia, says India is a "major focus" for its business. The company has previously shown interest in a government programme that will offer incentives for local EV manufacturing. It has also signed an initial agreement with the government in India's western Maharashtra state to invest about $1.7 billion to build EVs. Zellmer said it was important for Skoda to get its portfolio right in India, a market he said was a "gateway" for Southeast Asia and the Middle East. "We are really looking for us building on ... one of the biggest potential growth markets globally," he added. (Reporting by Aditi Shah; Additional reporting by Victoria Waldersee in Berlin; Editing by Kate Mayberry)
Reuters
14-03-2025
- Automotive
- Reuters
VW's Skoda to invest in manufacturing EVs in India despite $1.4 bln tax demand overhang
Summary Companies Skoda to adapt EV technology from China for India market Co will stay "single" and invest in India if no partner found VW faces $1.4 bln tax demand over misclassification of imports NEW DELHI, March 14 (Reuters) - Skoda Auto plans to manufacture electric cars in India and will invest in the country by itself if its search for a local partner fails, the Czech carmaker's CEO said, as its parent Volkswagen Group fights a $1.4 billion tax demand case. VW's local unit Skoda Auto Volkswagen India is embroiled in a legal tussle with the country's tax department over allegations that it misclassified imports of some Audi, VW and Skoda cars to evade higher duties. If the company loses the battle, against what it calls an "impossibly enormous" demand, it will need to fork out $2.8 billion including penalties and interest, which could become a matter of survival, one of VW's lawyers said last month. CEO Klaus Zellmer told the media this week that he was unable to comment on the "ongoing, very critical procedure", but that Skoda is targeting India as it looks to the world's third-largest car market for growth outside Europe. "(It) is still our will and our strategy to form a joint venture to be even stronger in India ... but if there's no right partner we stay single and be still attractive and successful," he told reporters at a post-earnings press conference. Skoda has been leading Volkswagen's India strategy since 2018, but sales have remained low with the Volkswagen and Skoda brands together accounting for just 2% of India's 4 million units a year car market. But with stricter vehicle fuel efficiency standards set to kick in from 2027, all carmakers will have to introduce EVs, and Skoda believes its access to the Volkswagen Group's EV technology might give it an edge. "We can offer very innovative, very cost efficient solutions for battery electric vehicles, and this is our strategy also for India," Zellmer told reporters on the virtual call. Skoda has an agreement with India's Mahindra & Mahindra ( opens new tab to supply some EV components. Zellmer did not name Mahindra or any other company in terms of potential collaborators, but said talks were ongoing with partners with "local roots". India, where small cars from Suzuki Motor (7269.T), opens new tab and Hyundai ( opens new tab, ( opens new tab dominate the roads, has proved a difficult market for Western carmakers. But Skoda, which no longer has a big presence in China and exited Russia, says India is a "major focus" for its business. The company has previously shown interest in a government programme that will offer incentives for local EV manufacturing. It has also signed an initial agreement with the government in India's western Maharashtra state to invest about $1.7 billion to build EVs. Zellmer said it was important for Skoda to get its portfolio right in India, a market he said was a "gateway" for Southeast Asia and the Middle East. "We are really looking for us building on ... one of the biggest potential growth markets globally," he added.
