Tata Motors and Iveco Group have announced a new chapter in their relationship, with massive potential implications for the commercial vehicle sector.
Both companies operate across major truck and van markets, so the development will be watched by customers and dealers interested in future product investment, technology and distribution.
The two complementary portfolios and geographic strengths create a truly global enterprise, with presence in over 130 countries across key developed and high-growth markets in Europe, India, South America, Asia, the Middle East and Africa, and combined revenues of more than €21 billion.
Together their worldwide footprint totals 27 manufacturing sites and 25 R&D centres, and they are supported by a network of over 9,300 sales and service centres.
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The brands also employ 73,000+ people across six continents, creating a formidable global talent and technology base with which to define the future of their commercial vehicle strategy.
Tata Motors Limited, India’s largest commercial vehicle manufacturer, and Iveco Group marked a new beginning together as a global commercial vehicle maker, ranking them fourth in the world amongst commercial vehicle manufacturers.
The new enterprise has plenty of industrial heritage, with complementary product portfolios and an ambition to commit to sustainable mobility.
In a statement, the two firms said the would look to harness their combined scale, reach and talent to shape a future of mobility that is safer, smarter, more connected and more sustainable.
The collective strength and expertise of Tata Motors and Iveco Group in advanced powertrains, alternative energy, software, connected technologies and manufacturing, will accelerate innovation in the new group.
The statement went on to add that it expects the new group would 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.
