Una Nuova Forza CV Globale

Tata Motors' bold acquisition offer for Italy's Iveco Group N.V. to emerge as a new global force is both strategic and meaningful

- Ashish Bhatia

Tata Motors has taken a bold and transformative step in the global commercial vehicle landscape with the announcement of its acquisition offer (conditional) of Italy's Iveco Group N.V. The landmark transaction, the nature of which doesn't materialise very often is valued an estimated USD 4.5 billion (~2X of the JLR Deal), and represents a 100 per cent acquisition of the common shares of Iveco Group, excluding its defence business. Approved by the Executive Committee of Tata Motors' Board of Directors on July 30, 2025, the acquisition signals India's growing ambition to establish itself as a formidable force in global truck and bus manufacturing. The acquired business generated Euro 14.1 bn in revenue and Euro 891 mn in EBIT (6.3 per cent margin) in CY24, with 75 per cent of industrial revenues rooted in the EU. Iveco's strength lies in its comprehensive portfolio of trucks, buses, powertrains, and captive financial services, supported by 19 industrial sites and 30 R&D centres globally. It boasts of a 12.2 per cent market share in EU LCVs and ranks number 02 in city buses with a 50 per cent share in intercity. Post-acquisition, both Tata and Iveco aim to jointly unlock annual synergies of up to 0.5 per cent of consolidated revenue.