NEW DELHI: German automobile giants Volkswagen and Skoda Auto on Monday announced that they will launch at least four India specific SUVs in the market by 2023. The carmaker also showcased two compact SUVs — VW Taigun and Skoda’s concept SUV.

The two sister firms have already collaborated their operations in India and announced a new entity — Skoda Auto Volkswagen India (SMVIPL).

The new brand has already committed an investment of EUR 1 billion (Rs 7,900 crore) under its India 2.0 strategy, that would focus on tapping the growing SUV market.

When launched, the two SUVs would compete against a bunch of well-established models as most of the incumbent players have shifted their focus from smaller cars to compact SUVs.

To increase competitiveness, the brand would scale up its touchpoint in next few years and bring down ownership cost. Jürgen Stackmann, member, the board of management, Volkswagen, said, “Today, we present the next big step for Volkswagen in India. The compact SUV is specially designed for this market keeping in mind the needs of aspirational Indian customers.” 

He added, “India continues to remain an important market for Volkswagen.”