Skoda has announced the badging for their upcoming compact hatch – the Rapid.  
The Rapid which will basically be the production version of the Mission L Concept is going to arrive on the European market by the end of 2012, but the Czech automaker said it will also offer a Chinese version of Rapid from 2013.
Skoda CEO Winfried Vahland said ot the brand’s press conference in Beijing that "As part of its growth strategy, SKODA has initiated the largest model
offensive in its corporate history and will bring a new vehicle to
market every six months on average in the years ahead," "the Rapid is our next new model. It has a central importance for our
growth and will provide us with a strong tailwind on international
The Rapid is described as an attractive and family-oriented model positioned between the Fabia and the Octavia in the automaker’s lineup which will offer lots of room for the driver, passengers and luggage.

Source: Skoda