Tata Motors Limited, India’s largest commercial vehicle manufacturer, and Iveco Group N.V., a leading international player in commercial vehicles, buses and powertrains, marked 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.
Announcing this at a global press meet in Turin, Italy, N Chandrasekaran, Chairman, Tata Sons, Tata Motors and Iveco Group, said: Today marks the beginning of an exciting new chapter for Tata Motors and Iveco Group. Two strong and successful organisations, united by shared values, a common commitment to sustainable mobility and an ambition to shape the future of commercial transportation, have come together to create a truly global commercial mobility enterprise. We will invest for the long term, enable ideas and capabilities to flow in both directions, and harness our combined scale, reach and talent to shape a future of mobility that is safer, smarter, more connected and more sustainable. I take this opportunity to express my appreciation to the Italian Government, the regulatory authorities across jurisdictions, our employees, shareholders and all the stakeholders whose trust, cooperation and support have helped us reach this important milestone. I also warmly welcome our colleagues from Iveco Group into the Tata family and look forward to all that we can achieve together.”
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.
Girish Wagh, MD & CEO, Tata Motors, said: “We are pleased to turn our strategic vision into an operational reality alongside our colleagues at Iveco Group. Together we have a compelling opportunity to create greater value for our customers and stakeholders. Our complementary portfolios, capabilities and geographic strengths provide a strong foundation for growth, while ensuring continuity from day one for customers, dealers and partners. Our ambition is to build a stronger enterprise by combining our strengths in engineering, new age technologies, sourcing, distribution and customer networks. We will accelerate innovation, broaden our reach and bring advanced solutions to customers faster and more competitively.”
United by a shared ambition for growth and green mobility, Tata Motors and Iveco Group will harness their combined scale, the talent of over 73,000 people and a two-way flow of engineering, technology and expertise to unlock the full potential of the combination.
Commenting on this fundamental milestone, Olof Persson, Chief Executive Officer, Iveco Group, said: “This is a defining moment for Iveco Group, and one we approach with confidence and great energy. We begin this new chapter proudly, with the brands, people, capabilities and industrial heritage that have shaped our company, alongside Tata Motors, a partner of great strength, with a deep understanding of the commercial vehicle business and a shared long-term perspective and commitment to sustainable transport. I want to thank our employees, customers, dealers, suppliers and partners for their trust and support. We now have the opportunity to build on everything Iveco Group has achieved, unlock new possibilities with Tata Motors and create an even stronger future.”
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.+).
This worldwide presence is supported by a strong industrial, innovation and customer network: 27 manufacturing sites, 25 R&D centres and approximately 9,300 sales and service centres.
Powering Mobility. Today and Tomorrow
Across the combined enterprise, powertrain capabilities span the full spectrum: from conventional and established combustion technologies to natural gas to battery-electric, hydrogen and other emerging zero- and low-emission solutions.
This breadth of technologies, fuel choices and applications creates a powerful foundation to pursue multiple pathways to decarbonisation, addressing different customer needs and market realities while accelerating the transition towards cleaner commercial mobility.
Tata Motors’ commercial vehicle portfolio spans sub-1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass-mobility solutions, with deep capabilities in India and high-growth emerging markets of Asia, Middle East & North Africa.
Iveco Group brings extensive capabilities across light, medium and heavy commercial vehicles and city and intercity buses, with strong positions across Europe and Latin America. FPT adds significant powertrain capabilities across on-road, off-road, marine and power-generation applications.
Together, this means more choice for customers: a broader range of vehicles, technologies and powertrain solutions, backed by the capabilities and reach to address increasingly diverse mobility needs.