“Bigger than we ever imagined”: Tata and Iveco flex their muscles as they begin a new chapter

“Two iconic companies, together for a great future driven by decarbonisation.” “We complement each other in terms of both our product portfolios and our know-how.” These were two of the key statements made at the press conference held this morning, Tuesday 3 November, at Iveco Group’s headquarters in Turin, marking a new chapter for the company following its move under Tata Motors ownership.

“Bigger than we ever imagined” was the slogan accompanying the event, attended by Olof Persson, CEO of Iveco Group, Natarajan Chandrasekaran, Chairman of Tata Sons, Tata Motors and Iveco Group, and Girish Wagh, Managing Director and CEO of Tata Motors.

To put the scale of the combination into perspective, the two companies together form a giant operating in more than 130 countries, with combined revenues of approximately €21 billion, annual sales of 590,000 units, 73,000 employees and 27 manufacturing sites. A true industrial heavyweight, with Tata particularly strong in Asia, the Middle East and Africa, and Iveco in Europe and Latin America.

Iveco Group’s future with Tata

The statements made by the three executives during the press conference offered reassurances about Iveco Group’s future in Turin and that of its Italian factories: the Group will retain its headquarters in the city, control of its manufacturing plants, including those in Brescia and Foggia, and the identity of its brands, while Tata Motors will support Iveco Group’s current strategy and investment plans.

Among Iveco’s brands, FPT Industrial was singled out by Chandrasekaran himself as a “jewel”. Wagh also pointed out that Tata has been a customer of Iveco Group’s powertrain division for more than twenty years.

Little else is known at this stage, including whether Tata might eventually bring its own product portfolio to Europe and Italy — for example, in the bus and coach segment. We will have to wait and see.