N. Chandrasekaran, Chairman of Tata Sons, Tata Motors and Iveco Group, met with Prime Minister Giorgia Meloni at Palazzo Chigi. As strategic industrial and economic ties between Italy and India continue to grow, the transaction bringing Iveco Group and Tata Motors together to establish one of the world's largest commercial vehicle manufacturers is a significant development.
A few days back, at a global press meet in Turin, Italy, Tata Motors and Iveco Group announced a new beginning together as a global commercial mobility enterprise with the scale, reach and capabilities to compete and grow across markets and technology cycles.
Ranked fourth in the world amongst commercial vehicle manufacturers, the new enterprise combines deep industrial heritage, strong brands and complementary product portfolios spanning the breadth of commercial mobility, with a strategically diversified and growing presence across Europe, India, South America, Asia, the Middle East and Africa.
The collective strength and expertise of Tata Motors and Iveco Group in advanced powertrains, alternative energy, software, connected technologies and manufacturing, will accelerate innovation, open new frontiers for growth, and bring cleaner, smarter mobility solutions to customers at greater speed and scale, helping shape the future of commercial mobility.
Iveco Group will remain headquartered in Turin, Italy, with its brands, teams and industrial footprint retaining their distinct identities. Tata Motors will support Iveco Group’s existing strategy and investment plans, while both organisations collaborate to leverage their complementary strengths, deepen capabilities and create greater value for customers and stakeholders.
Together, Tata Motors and Iveco Group form a commercial mobility enterprise of significant global scale, with a presence in over 130 countries, sales volumes of 590,000 units and combined revenues of Euros 21 billion (INR 2,28,000 Cr.+).