Introduction of the New Electric Octavia

Skoda has announced plans to reveal a concept car in September that hints at the Octavia-sized electric vehicle it is currently developing. The new model is expected to be built on the Scalable Systems Platform (SSP), which will also underpin Volkswagen's future electric Golf-sized car.

According to Skoda boss Klaus Zellmer, the new platform will provide more performance and be more cost-efficient, making it worth the wait. However, Zellmer refused to confirm if the nameplate of Skoda's biggest-selling model would be carried over to the EV.

Skoda's Electric Vehicle Strategy

Skoda has decided not to produce a sub-£20,000 electric small car, instead leaving that segment to its colleagues in the VW Group. The company will focus on more expensive models, including the new electric Octavia and other upcoming EVs.

Two new Skoda electric cars, the Epiq and the 7S, are expected to be revealed next year. The Epiq is a small £22,000 hatchback sister car to the forthcoming Volkswagen ID.2 and Cupra Raval, while the 7S is a seven-seat electric sibling to the Kodiaq.

Financial Performance and Sales

Skoda has reported a record financial year, with an operating profit of 2.3bn Euros (£1.93bn). The company has also moved into the top four in the European sales chart, up from seventh in 2023 and 10th in 2022.