Tata Motors and Iveco Form Joint Venture for Commercial Vehicle Group

On July 31, it was reported that Tata Motors and Iveco reached an agreement on July 30 to jointly establish a commercial vehicle group, which is expected to exceed annual sales of 540,000 units in the future. According to public information, Iveco is an Italian automotive brand founded by the Fiat Group in 1946, headquartered in Turin, Italy. As a well-known manufacturer of commercial vehicles, Iveco has a diverse product line that includes light, medium, and heavy trucks, as well as buses, coaches, and specialized vehicles such as ambulances and fire trucks. Tata Motors' acquisition proposal includes a total purchase price of approximately €3.8 billion for Iveco, excluding its defense business and net proceeds after divestment. The transaction is expected to be completed in the first half of 2026, while the sale of Iveco's defense business is expected to be completed by the first quarter of next year, with final completion no later than March 31, 2026.