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Schot took over on an acting basis in June after Rupert Stadler was jailed while prosecutors investigate possible illegal manipulation of diesel engine emissions. Stadler has since left the company.
Schot, 57, was acting CEO along with his duties as marketing head at Audi, which also oversees the Volkswagen Group's Lamborghini car and Ducati motorcycle brands.
Volkswagen Group CEO Herbert Diess, who also heads Audi's board of directors, said in a statement Wednesday that with his new mandate Schot would "further accelerate the transformation of the enterprise."
Schot was also appointed to the Volkswagen Group's management board, its top executive body.