Indian powerhouse Tata Motors is acquiring the Iveco Group for €3.8bn. FPT Industrial, which is well-known in machinery circles for its engines, powertrains and axles for agricultural and construction equipment, is part of the deal. Tata Motors is India’s market leader in commercial vehicles, such as buses and lorries, and ranks among the top three in the passenger vehicles market in India.

Outside of its involvement in agriculture, the Iveco Group designs and manufactures heavy, medium and light-duty trucks, buses, quarry and construction vehicles.

The Iveco Group employs 36,000 people around the world and has 19 industrial sites and 31 R&D centres. Together, Iveco and the commercial vehicle business of Tata Motors will have combined revenues of circa €22bn split across Europe (c.50%), India (c.35%) and the Americas (c.15%).

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Iveco was part of CNH Industrial until 1 January 2022, when it was separated and has since operated as an independent company. With over 8,000 staff across 10 production sites and 10 R&D centres, FPT Industrial claims to be active in nearly 100 different countries. Its extensive product offering includes six engine ranges, with power outputs from 42hp to over 1,000hp, transmissions with torque up to 500Nm, and front and rear axles from 2.45 to 32 tonne GAW (Gross Axle Weight). FPT Industrial offers natural gas engines, with power outputs ranging from 50 to 520hp.

Some of FPT’s agricultural clients include the CNH brands (Case IH, New Holland and Steyr), Claas, Argo Tractors (Landini and McCormick), Antonio Carraro, BvL and Hattat. It’s understood the Iveco Group’s headquarters will remain in Italy, with the acquisition is expected to be completed in Q2, 2026.