Skoda Auto AS, the Czech Republic’s largest manufacturing company, plans to expand into Southeast Asian markets after more than doubling its car sales in India last year, according to Bloomberg.

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The Czech brand of Volkswagen AG is looking for new markets after the entire German group ceased operating in Russia last year. While a lack of chips curbed Skoda’s global deliveries in 2022, higher price tags meant that its revenue jumped 19 percent to €21 billion ($22.3 billion), and India became the company’s third-biggest market with deliveries soaring 128 percent from a year earlier.

Skoda now plans to start importing finished cars to Vietnam and launch an assembly line in the country in 2024, according to a statement on Thursday. The company also plans to boost sales in the Middle East.

“Skoda Auto regards Vietnam as a strategic gateway into the ASEAN area, as well as the broader Indo-Pacific region,” the company said. “Skoda sees a significant sales potential in the ASEAN member countries.”

First Published:Mar 16, 2023 3:05 PM IST