Tata Motors, Iveco launch global commercial vehicle giant with euro 21 billion revenue

Tata Motors and Italy's Iveco Group have officially merged to form a global commercial vehicle enterprise, marking the beginning of a new era in commercial transportation. The combined entity, which will be the world's fourth-largest commercial vehicle manufacturer by sales volumes in the over-six-tonne segment, boasts a strong presence in over 130 countries.

Tata Motors, led by Chairman N Chandrasekaran, acquired an 89.42% stake in Iveco Group for approximately €3.43 billion (around Rs 36,000 crore), while Iveco Group maintains its headquarters in Turin, Italy. The new enterprise will employ more than 73,000 individuals across six continents and support its operations through 27 manufacturing facilities, 25 research and development centers, and approximately 9,300 sales and service centers.

N Chandrasekaran emphasized the importance of the merger, stating that Tata Motors and Iveco Group, united by shared values and a commitment to sustainable mobility, aim to shape the future of commercial transportation. The combined enterprise will leverage its extensive reach and talent to develop safer, smarter, and more connected mobility solutions, focusing on conventional combustion engines, natural gas, battery-electric vehicles, hydrogen, and other emerging zero- and low-emission technologies.