Turin: Tata Motors will leverage its newly acquired global scale to expand its commercial vehicle (CV) business across markets, with Iveco products set to enter India and Tata-branded vehicles to be introduced in markets where the Italian truck and bus maker has a strong presence.
The road ahead will focus on cross-market opportunities, technology sharing and accelerated innovation as the two companies embark on a joint growth strategy following the completion of the €3.8-billion acquisition of Iveco Group NV.”The ambition to become a global company has become reality today,” Tata Sons Chairman N. Chandrasekaran said at a press conference in Turin, Italy, marking the completion of the transaction.
Chandrasekaran, who is also Chairman of Tata Motors, has taken over as Chairman of Iveco Group. The deal, the largest in Tata Motors’ history, gives the Indian automaker access to Iveco’s footprint in Europe and Latin America, its advanced powertrain and heavy-duty truck technologies, and its defence business.
Tata Motors said it plans to bring Iveco trucks to India to cater to premium heavy-duty segments, while Tata’s own CV range will be introduced in markets where Iveco is strong, leveraging combined dealer and service networks.
The combined entity will focus on joint product development, alternate fuel and electric mobility solutions, and supply chain synergies.
