As we reported last month in PowerTALK, India’s Tata Motors and Iveco Group have formed one company. Here’s more on this important story.
The combined company has a presence in more than 130 countries across Europe, India, South America, Asia, the Middle East and Africa, and combined revenues of USD $23.52 billion (21 billion euros) (INR 2,28,000 Cr.+). The new organization has more than 73,000 employees across six continents, 27 manufacturing sites and 25 R&D centers, supported by a network of over 9,300 sales and service centers.
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 statements by 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 organizations collaborate to leverage their complementary strengths.”
Together, Tata Motors and Iveco Group form a commercial mobility enterprise with a sales volumes of 590,000 units and combined revenues of US $23.5 billion (€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.
PSR Analysis. This appears to be a good merger that provides Tata with a more advanced global powertrain technology and a larger global footprint in various segments including medium and heavy commercial vehicles. Iveco will no longer be a “stand alone” OEM in Europe and Latin America and will now have the financial resources to continue to develop technology and expand their global footprint.PSR
Chris Fisher is Senior Commercial Vehicle Analyst
