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Skoda plans big investment into electric cars as part of rebound effort

PRAGUE — Czech carmaker Skoda, part of the Volkswagen Group, said on Wednesday it would invest around 2.5 billion euros over the next five years on future technologies, with more than half going to electric vehicle investment. The Czech Republic's largest exporter is hoping for a rebound in 2021 from a global car sales drop but faces uncertainty over the coronavirus pandemic and a semiconductor shortage rattling the industry. "This year is likely to be another big challenge," finance director Klaus-Dieter Schuermann said. "We expect Skoda Auto's group performance to improve, with sales revenue significantly above the level of last year." Skoda reported on Wednesday a 54.5% drop in 2020 operating to 756 million euros ($894 million). Sales revenue dropped 13.8% to 17.1 billion euros. Global deliveries remained above 1 million cars for a seventh straight year despite a 19% drop after production outages at the outset of the pandemic and a fall in China, its biggest single market. Chief Executive Thomas Shaefer said the car company was managing the semiconductor shortage "but it will follow us for awhile" and the impact was not visible yet. Skoda's core market in Europe would be electric in the future, Shaefer said, although it was still not time to completely switch away from traditional models, which include the launch last year of a new generation of its flagship Octavia model. It has also started production of the all-electric Enyaq iV model, which is a version of Volkswagen's ID.4. Skoda plans investments of 1.4 billion euros into electromobility development as part of its five-year investment plan. Investments will also go into digitalization activities and plant modernization. Related video: Green Volkswagen Skoda Electric

Skoda's next concept is a 300-mile electric SUV

If you thought Volkswagen wasn't serious about electric vehicles, think again. Its subsidiary Skoda will reveal an electric SUV concept called the Vision E at the Shanghai auto show in a few weeks. Not only is it the fourth all-electric concept shown by the VW group (following the I.D., I.D. Buzz, and Sedric), but it previews the electrified future of Skoda, which announced that it will have five pure EVs in its lineup by 2025. The Vision E is just as impressive as the company's electric ambitions, too. It boasts a roughly 310-mile range on a charge, and packs a motor that makes about 300 horsepower. The car will be capable of level 3 autonomy, which will allow it to operate autonomously on highways, in stop-and-go traffic, and to find parking spaces. Its top speed isn't amazing at around 111 mph, but it isn't a sports car. Rather, it's an "SUV coupe" similar to the BMW X6 and Mercedes-Benz GLC Coupe. As such it has a more sedan-like back. The styling is also unique with full-width headlights and foglights, and another lighting element that extends from the front fender down the doors. The only obviously Skoda styling cue is the bulge down the center of the hood. The Vision E is also similar to the X6 and GLC Coupe in other ways. Its specs are quite close to those crossovers, particularly the Mercedes. It's a few inches shorter than the GLC Coupe, but it's an inch wider. It also makes the same amount of horsepower as the entry-level X6 and outguns the Mercedes by an impressive 59 horsepower. Of course, these are figures currently only projected and hypothetical since the Vision E is a concept, but it helps us get an idea of what this vehicle is like. So far, Skoda has only released sketches of the concept. We'll have to wait until the Shanghai show to see the real thing. Related Video:

Volkswagen throws a Polo-palooza with four new or upgraded models

Volkswagen unveiled a parade of new and upgraded Polo models at the 2014 Geneva Motor Show, including the Polo TSI BlueMotion, Polo TDI BlueMotion, Polo BlueGT and CrossPolo (pictured above). While they will likely never make an appearance this side of the pond, it is fun to see what European subcompact drivers will be driving later this year.
The new BlueMotion models represent the most efficient petrol and diesel options in their class, according to VW. The BlueMotion TDI offers just 73 horsepower from its diesel engine but gives the equivalent of 76 miles per gallon (US) in the EU test. The BlueMotion TSI brings a little more power with its 88-hp petrol engine and has a combined rating of 57 mpg (US) in the EU cycle.
The Polo BlueGT provides a balance of performance and economy, and for the 2014 model, it gains a 9-horsepower boost to its 1.4-liter turbocharged to give drivers 147 hp at the press of the accelerator. This year's car also has an optional Sport Select suspension with electronically controlled dampers to improve handling a bit. It's still fitted with active cylinder management to use as little gas as possible when cruising.