I believe the company is named after Emil Skoda who founded the industrial side of the company, originally making machine guns for the Austro-Hungarian Army.
They branched out into trains, bridges, power stations and other heavy engineering products. The central hub of the London Eye was built by Skoda.
The car side descends from Laurin & Klement who originally made bicycles and had something to do with Hispano Suiza. The Laurin & Klement name is still carried on the top spec Skoda cars.
All largely irrelevant now as they’re just another VW / Audi subsidiary, making the same cars just with subtle cosmetic differences.
Off topic, but I'm guessing VW didn't take on the heavy side of Skoda?