Skoda Auto to invest Euro 5.6 billion for electric vehicles, plans a small affordable SUV EV by 2025

With a commitment of Euro 5.6 billion, Skoda Auto is accelerating its electrification strategy with plans to launch six battery electric vehicles by 2026. The company plans to enter the affordable small EV market by 2025 with a target price of Euro 25,000, Klaus Zellmer, the Global CEO of Skoda Auto announced.  

The company on Tuesday unveiled clay models for four all-new electric vehicles ranging from a small SUV measuring 4.1 metres to a compact SUV, a Combi SUV and a large Space BEV with a length of 4.9 metres.

Announcing the Lets Explore plan at its HQ in Mlada Boleslav, Škoda said, it will be offering a complete range of all-electric models – with the “Small” BEV in the small SUV segment, the “Compact” with its official name Elroq in the compact SUV segment, a spacious “Combi” estate model and a seven-seater SUV “Space”, Škoda will significantly expand and diversify its all-electric portfolio.

Apart from these four vehicles, the Enyaq family will be updated by 2025, Skoda Auto informed. This range of SUVs will sport a new design language that is robust for future BEV models, claimed the company.

Klaus Zellmer, Chairman of the Board of Škoda Auto, says: “With six new all-electric models across all segments by 2026, Škoda Auto is moving even faster towards sustainable, electric individual mobility. Together with our new and highly efficient conventional and hybrid-powered models, we are offering the best of both worlds – meeting our existing and new customers’ needs around the globe in this time of transition.

The Czech car maker however reiterated that cars with modern and highly efficient internal combustion engines and plug-in hybrid powertrains will continue to be an important mainstay during the transformation phase.

With the new generations of the Superb and Kodiaq, the refreshed Octavia, Kamiq and Scala as well as the new BEV models, Škoda will soon offer the most diverse portfolio in its history: combining the best of both worlds and offering customers in different markets the right Škoda for every taste and requirement.

Wide range of EVs from “Small” to “Space”
Planned for 2024, the first upcoming BEV vehicle will be the “Compact” SUV, which will officially be called Elroq. Measuring around 4.50 metres in length and boasting a similar combination of compact dimensions and a spacious, very practical interior, the Elroq will be the all-electric successor to the Škoda Karoq. It will further expand the Czech brand’s model portfolio in the SUV segment.

The future entry-level model will bear the working title “Small”. It will be a sub-compact car priced around Euro 25,000 that will make electric mobility affordable. The model will be produced at a Volkswagen Group Plant in Spain and introduced in 2025. At around 4.10 metres in length, it will offer a similar luggage capacity as the Scala.

In 2025, the Enyaq and Enyaq Coupé will receive a comprehensive update and adopt the new modern solid design language first showcased on the Vision 7S. 

The Enyaq iV models were the first Škoda vehicles to be based on the Volkswagen Group’s Modular Electrification Platform (MEB) and as such have been emblematic of the brand’s new era of electric mobility since 2020 (Enyaq Coupé since 2022).

The “Combi” will play a key role among the four new models. This approximately 4.70-metre-long model will be the brand’s first all-electric estate car, taking the strengths of this particularly popular and successful Škoda body style into the electric age. The “Combi” estate BEV will be introduced in 2026.

The largest of Škoda’s future BEVs will be the “Space” – the production version of the Vision 7S concept. It will be around 4.90 metres long and round off the upper end of the portfolio.