Mumbai, Nov. 9 -- Tata Motors and Iveco Group have marked the formation of a global commercial mobility enterprise, combining their commercial vehicle, bus and powertrain operations across developed and high-growth markets. The enterprise will have a presence in more than 130 countries, sales volumes of about 590,000 units and combined revenues of approximately Rs. 2.28 tn.
The combined organisation will rank fourth among global commercial vehicle manufacturers and will be supported by 27 manufacturing sites, 25 research and development centres and about 9,300 sales and service centres. It will employ more than 73,000 people across six continents, bringing together complementary engineering capabilities, brands, technologies and geographic strengths.
Iveco Group will remain headquartered in Turin, Italy, while its brands, teams and industrial footprint will retain their distinct identities. Tata Motors will support Iveco Group's existing strategy and investment plans, with both organisations collaborating on engineering, sourcing, distribution, customer networks and technology development.
The companies said their combined powertrain capabilities cover conventional combustion technologies, natural gas, battery-electric, hydrogen and other low- and zero-emission solutions. Their portfolios span light, medium and heavy commercial vehicles, buses, cargo vehicles and mass-mobility applications, providing access to a broader range of products and powertrain technologies across India, Europe, Latin America, Asia, the Middle East and Africa.
The combination is also intended to accelerate innovation in alternative energy, software, connected technologies and manufacturing. The companies said technology, engineering expertise, market knowledge and established practices would flow between their teams, helping them develop and deploy cleaner and more connected mobility solutions at greater scale.
For customers, dealers, suppliers and business partners, existing contracts, relationships, warranties, aftermarket commitments and captive financing arrangements will continue unchanged. Tata Motors and Iveco Group said their immediate priority was ensuring continuity, while their longer-term focus would be expanding customer choice, creating growth opportunities and supporting the transition towards safer, more sustainable commercial transportation.
Published by HT Digital Content Services with permission from Construction World.