Tata Motors finalises €3.8 billion Iveco purchase, creating fourth‑largest commercial vehicle group

Tata Motors has completed a €3.8 billion acquisition of Italy’s Iveco Group, forming the world’s fourth‑largest commercial vehicle manufacturer. The deal was sealed in Turin, where Tata Sons chairman N. Chandrasekaran, Tata Motors MD & CEO Girish Wagh and Iveco CEO Olof Persson marked the occasion. Chandrasekaran, who also chairs Tata Motors, will take over as Iveco Group chairman. The combined entity now operates in more than 130 countries across Europe, India, South America, Asia, the Middle East and Africa, and is expected to generate revenues above €21 billion (roughly Rs 2.28 lakh crore). It employs over 73,000 staff, runs 27 manufacturing plants, 25 R&D centres and a network of more than 9,300 sales and service points. Both leaders said the merger is not a consolidation but a growth‑driven partnership. Iveco will keep its Turin headquarters and distinct brand identities, while Tata Motors will support Iveco’s existing strategy and explore synergies. The joint venture will introduce Iveco trucks and buses in India and launch Tata‑branded vehicles in markets where Iveco already has a strong foothold. A shared power‑train portfolio now covers diesel, natural‑gas, battery‑electric, hydrogen and other low‑emission technologies, aiming to accelerate decarbonisation of commercial mobility.

Context

The partnership combines two historic automotive brands to broaden global reach and speed up adoption of greener transport solutions, reflecting a broader industry shift toward sustainable commercial vehicles.