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Monday, September 20, 1999

Skoda Auto to seek FIPB nod for 100% outfit 

Byas Anand  
Frankfurt, Sept 19: The Czech carmaker Skoda auto will formally approach the Foreign Investment Promotion Board (FIPB) after the general elections in India for seeking permission to set up a wholly-owned subsidiary to produce its premium segment car -- Octavia.

The car, which is likely to hit the streets by the end of first quarter of the year 2000, would be introduced initially in a Sedan version, Skoda Auto's director Indian operations Imran Hassen said here.

The car would sport both petrol and diesel engines. "The diesel option would be powered by a 1900cc turbo-diesel engine. However, the power train for the petrol-driven model is yet to be finalised. It would sport either a 1600cc or bigger engine. Later we might also look for a smaller engine on the car."

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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