As off this week, India's Tata Motors and Iveco Group form one company with presence in over 130 countries across Europe, India, South America, Asia, the Middle East and Africa, and combined revenues of 21 billion euros (INR 2,28,000 Cr.+). The new combination has 73,000+ employees across six continents, 27 manufacturing sites and 25 R&D centres, supported by a network of over 9,300 sales and service centres.
With strong roots in India and Europe and a significant presence across Latin America and other international markets, Tata Motors and Iveco Group see this as a move forward with a shared ambition: "to create a stronger, innovative and resilient commercial mobility enterprise". According to both companies Iveco Group will remain headquartered in Turin, Italy, with its brands, teams and industrial footprint retaining their distinct identities and 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". Announcing this at a global press meet in Turin, Italy, Mr. 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. 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.” Together, Tata Motors and Iveco Group form a commercial mobility enterprise with a sales volumes of 590,000 units and combined revenues of €21 billion (INR 2,28,000 Cr.+). With these numbers they state their forming the fourth company in the world
amongst commercial vehicle manufacturers, with a diversified presence across Europe, India, South America, Asia, the Middle East and Africa. Commenting, Mr. Olof Persson, Chief Executive Officer, Iveco Group, said: “We begin this new chapter proudly and now have the opportunity to build on everything Iveco Group has achieved, unlock new possibilities with Tata Motors and create an even stronger future.” 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. Speaking on the occasion, Mr. Girish Wagh, MD & CEO, Tata Motors, said: “Our complementary portfolios, capabilities and geographic strengths provide a strong foundation for growth, while ensuring continuity for customers, dealers and partners.” Both companies emphasise that existing customer contracts, dealer and supplier relationships, warranties, aftermarket commitments and captive financing solutions continue unchanged.