Skoda Auto plans to double its revenue over the next 10 years, driven by higher sales in fast growing non-European markets, chief Winfried Vahland said.

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He said: “Our target is to at least double overall sales of the brand compared to today’s volumes by the end of the decade.”

Sales in non-European countries, such as China and Russia, make up 30% of Skoda’s total sales and the target is to raise that share to 50% by 2020, he added.

Skoda is the Czech Republic’s second largest company by sales, accounting for around 7% percent of the country’s total exports. Cars and car parts are the Czech Republic’s biggest export and a key driver of economic growth.

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