John Deere India has sold over 100,000 tractors in India within a single Deere fiscal year, marking an operational milestone in its domestic business.

The achievement reflects the expansion of farm mechanisation across Indian agriculture and the adoption of the company's equipment across varied agro-climatic conditions and crop applications.

In addition to serving domestic requirements, John Deere's Indian operations act as an export hub, supplying tractors and machinery from India to over 110 countries. The company has maintained an operational presence in India for more than 28 years, supported by tractor manufacturing facilities in Pune and Dewas, engineering and enterprise technology centres in Pune, IT hubs in Pune and Bengaluru, parts distribution centres in Nagpur and Indore, and financial services operations in Pune.

Rajesh Sinha, Managing Director and Country Manager of John Deere India, and Strategic Advisor to the President, Construction & Forestry Worldwide, said, "Selling more than 100,000 tractors in a year is not just a business milestone; it is a reflection of the confidence that Indian farmers and channel partners place in John Deere. We remain committed to supporting farmers with reliable equipment, advanced technology and solutions that help improve productivity, profitability and sustainability."

Comments (0)

ADD COMMENT

Link Copied!

Mumbai-headquartered Energy In Motion has signed a Memorandum of Understanding with Sorigin Green Mobility to deploy 500 electric heavy commercial vehicles over a two-year timeframe.

The collaboration targets the adoption of electric heavy-duty freight transport and the decarbonisation of commercial logistics networks across major freight corridors in India, including the Jawaharlal Nehru Port Authority ecosystem.

Under the terms of the agreement, Energy In Motion will supply its Ashwa 55-tonne electric tractors, backed by charging infrastructure, battery-swapping networks and energy-management systems.

The initiative will focus on cargo-intensive routes to improve vehicle utilisation and lower refuelling turnaround times. Implementation is scheduled to commence immediately, starting with an initial deployment of 18 electric heavy commercial vehicles within the Jawaharlal Nehru Port Authority precinct.

Narendra Murkumbi, Managing Director of Energy In Motion, said, "We believe the electrification of heavy commercial transport will be driven not just by the availability of electric vehicles, but by an integrated ecosystem that makes them practical and commercially viable for fleet operators. Sorigin Green Mobility is our valued existing customer, and this new large-scale partnership marks a significant step-up in heavy electric logistics across key freight corridors in India. By combining our Ashwa 55-tonne electric tractor with charging infrastructure, battery-swapping solutions and energy management capabilities, we aim to address critical operational requirements such as vehicle utilisation, turnaround time and energy costs."

Gautam Rekhi, Director, and Aarav Tanti, Co-Founder of Sorigin Green Mobility, said, “We are pleased to partner with EIM to scale electric heavy freight across India. Combining EIM’s integrated vehicle and energy platform with Sorigin Green Mobility’s fleet operations, we aim to make zero-emission freight the default choice for ports and industrial supply chains. Our role is to make the switch simple. We finance, deploy, operate and maintain the fleet with guaranteed uptime, so customers pay only for the freight they move, with no upfront capex. We already operate EIM tractor in the JNPT and at Tuticorin Container Terminal, which lets us start this programme with deployment rather than pilots."

Comments (0)

ADD COMMENT

Link Copied!

Mumbai-headquartered commercial vehicle major Tata Motors and Europe’s Iveco Group have formed a global commercial mobility enterprise with combined revenues of approximately EUR 21 billion, operating across more than 130 countries.

The two entities have now come together and are currently ranked fourth globally among commercial vehicle manufacturers by truck sales volumes in the 6-tonne and above segment.

The combined entity encompasses a worldwide network comprising 27 manufacturing sites, 25 research and development centres, and over 9,300 sales and service centres. The enterprise brings together a workforce of more than 73,000 employees across six continents.

Going forward, Iveco Group will remain headquartered in Turin, Italy, retaining its distinct brand identities, teams and industrial footprint. The integration combines Tata Motors' commercial vehicle range across cargo and mass-mobility solutions in India and emerging regions with Iveco Group's light, medium and heavy commercial vehicles, buses, and FPT powertrain operations across Europe and Latin America.

Powertrain capabilities span internal combustion engines, natural gas, battery-electric systems, and hydrogen technologies. Existing customer contracts, dealer networks, supplier agreements, warranties, and aftermarket commitments remain unchanged.

N Chandrasekaran, Chairman of Tata Sons, Tata Motors and Iveco Group, said, "Today marks the beginning of an exciting new chapter for Tata Motors and Iveco Group. Two strong and successful organisations, united by shared values, a common commitment to sustainable mobility and an ambition to shape the future of commercial transportation, have come together to create a truly global commercial mobility enterprise. We will invest for the long term, enable ideas and capabilities to flow in both directions, and harness our combined scale, reach and talent to shape a future of mobility that is safer, smarter, more connected and more sustainable. I take this opportunity to express my appreciation to the Italian Government, the regulatory authorities across jurisdictions, our employees, shareholders and all the stakeholders whose trust, cooperation and support have helped us reach this important milestone. I also warmly welcome our colleagues from Iveco Group into the Tata family and look forward to all that we can achieve together."

Girish Wagh, Managing Director and Chief Executive Officer, Tata Motors, said, "We are pleased to turn our strategic vision into an operational reality alongside our colleagues at Iveco Group. Together we have a compelling opportunity to create greater value for our customers and stakeholders. Our complementary portfolios, capabilities and geographic strengths provide a strong foundation for growth, while ensuring continuity from day one for customers, dealers and partners. Our ambition is to build a stronger enterprise by combining our strengths in engineering, new age technologies, sourcing, distribution and customer networks. We will accelerate innovation, broaden our reach and bring advanced solutions to customers faster and more competitively."

Olof Persson, CEO, Iveco Group, said, "This is a defining moment for Iveco Group, and one we approach with confidence and great energy. We begin this new chapter proudly, with the brands, people, capabilities and industrial heritage that have shaped our company, alongside Tata Motors, a partner of great strength, with a deep understanding of the commercial vehicle business and a shared long-term perspective and commitment to sustainable transport. I want to thank our employees, customers, dealers, suppliers and partners for their trust and support. We now have the opportunity to build on everything Iveco Group has achieved, unlock new possibilities with Tata Motors and create an even stronger future."

Comments (0)

ADD COMMENT

Link Copied!

Describing the auto sector as the industrial backbone of India and India as the fastest growing economy in the world, the Union Transport and Highways Minister, Government of India, Nitin Gadkari, mentioned that from the time he assumed office he has been behind Abhay Firodia, Chairman, Force Motors, and Sudhir Mehta, Chairman, EKA Mobility, among others to promote electric mobility. 
Stating that there is going to be a demand for 200,000 buses in the next two years in the country whereas the ability to make buses is limited to 60,000, Gadkari said, “I always told Sudhir whenever I met him that even you make as many buses, the demand for them will not be fulfilled.” 
Emphasising that the demand of 200,000 buses is just for the domestic market whereas the potential for exports is much more, the union minister averred, “A big challenge the country faces is logistics costs. At 16 percent in comparison to the GDP, it was quite high. The improvement in road infrastructure has brought it down to nine percent as per a study conducted by IIT Madras, IIT Kanpur and IIM Bengaluru. Because of good roads, people are travelling in their personal vehicles more than they would earlier.”
Explaining that the reduction in fuel cost will further reduce logistics costs, the minister informed, “The cost of fossil fuel is very high. The shift from imported fuels to the ones that are procured locally will have a multiplying effect on the economy. The goal should be to make 100 percent indigenous electric vehicles.”
Drawing attention to the lithium-ion deposits been found in Jammu, he reasoned, “At the launch of an electric Mercedes-Benz car in India, the company chief told me that they will make and export electric vehicles from India.” Stating that two-wheeler manufacturers like Bajaj Auto are exporting 50 percent of their produce, Toyota and Suzuki are exporting cars to Japan, Gadkari observed, “Much progress will be made by the Indian auto industry in the future in areas like bio- and alternative fuels in its journey to the number one position in the world.” “Whatever I have said until now has proved correct,” he added. 
Stating that pollution caused by fossil fuel vehicles has reduced human lifespan, the union transport and highways minister cited, “The auto industry is doing good on the innovation and research front. The start ups are doing a good job. The future of this sector looks very bright. Despite increasing their capacity to 100,000 units, manufacturers like EKA Mobility are going to experience a shortfall.” 
Explaining that it has decided to increase the GCW of 60-tonne truck to 65-tonne to compensate for the five-tonnes battery weight, the union minister said, “Surpassing Japan, the Indian auto industry has become the world’s third largest with an increase in size from INR 15 trillion to INR 22 trillion.” Stating that he has had the good fortune of flagging off India’s first electric two-wheeler, three-wheeler, car and commercial vehicle, Gadkari, in his address at the EKA Mobility event in Pune, affirmed that the growth of the Indian auto industry will catapult it to the world’s number one position. 
Describing the industry as the one that provides the most GST to the government and about 45 million jobs, the minister said, “India would have become truly ‘atmanirbhar’ when the auto industry will reach the number one position.” “I have been promoting bio- and alternative fuels since 2004 as the country with 22 lakh crore fossil fuel powered vehicles is the world’s third largest importer of crude,” he added.  
Stating that there is a need to cut down crude import dependence by promoting ethanol, methanol and other alternative fuels, Gadkari informed, “India has received an order to export 500,000 tonnes of hydrogen.” “I use a Toyota hydrogen car to underline that it is possible to run vehicles on hydrogen fuel,” he added. 
Referring to the reductio in lithium-ion battery prices over the last few years, the minister commented, “When I first flagged off an electric car in Delhi’s Taj Hotel, I was asked a question: What happens if it breaks down and who will push it to safety?” “The grow of electric vehicles in the country is limited by the supply constraint,” he added. 
Urging Maharashtra Chief Minister, Devendra Fadnavis, who was also present at the event, to improve roadside amenities in the state, Gadkari said, “Please make the per unit charging rate during the day INR five. The State of Maharashtra is a progressive state and it should make electric vehicles more beneficial to its users in order to lower pollution.” “Hydrogen trucks have been launched in India. Flex-fuel vehicles will be launched soon and run on 100 percent bio-ethanol. The auto industry, I am confident, will travel on the path to indigenous fuels making for a true ‘atmanirbhar Bharat’ that is also a USD five trillion economy,” he added.  

Making room for 50,000 e-buses in next three years
In response to Gadkari’s call for improving roadside amenities and reducing the per unit rate of electricity for electric vehicle users, Fadnavis informed that the State of Maharashtra needs approximately 50,000 electric buses over the next three to four years to meet growing demand for public transport electrification. “Of these, 10,000 buses are earmarked for Mumbai's civic body, 30,000 for the Maharashtra State Road Transport Corporation (MSRTC), and additional units for cities that include Pune and Nagpur,” he outlined. 
Urging manufacturers to expand production capacity in response to the need, the Chief Minister emphasised, “In partnership with manufacturers like EKA Mobility, statewide highway EV charging network will be developed. The state will facilitate land allocation, statutory permissions, and underlying infrastructure, resolving bottlenecks that manufacturers face independently.”
 

Comments (0)

ADD COMMENT

Link Copied!

With the revised Euro 14.40-per-share offer securing provisional acceptances covering 87.81 percent of Iveco's common share capital as a key condition for the acquisition, Tata Motors has crossed perhaps the most crucial challenge in the takeover of the Italian commercial vehicle major. As and when the deal reaches finality, the Tata Motors’ subsidiary, TML CV Holdings B.V., would come to hold approximately 89.42 percent of Iveco's common share capital excluding treasury shares.
In a regulatory filing dated October 27, Tata Motors said 238.16 million Iveco common shares had been tendered under the voluntary takeover offer by the October 26 deadline. The shares represent approximately 87.81 percent of Iveco's common share capital covered by the offer. 
The provisional results indicate that the revised 80 percent acceptance threshold has been met, subject to confirmation of the results and fulfilment of the remaining offer conditions.
The offer, made through TML CV Holdings B.V., values the tendered shares at approximately Euro 3.43 billion (at the revised price of Eur14.40 per share) including dividends. Tata Motors had initially offered Euro 14.10 per share before increasing the price by Euro 0.30 on 9 October 2026.
The company said the increase was intended to account for a delay of approximately four months in the acquisition process. Tata Motors managing director and chief executive Girish Wagh had described the increase as a goodwill gesture, maintaining that the revised Euro 14.40 offer was the company's best and final proposal.
The latest development follows Tata Motors' confidence expressed during its second-quarter FY27 earnings call that the offer would cross the 80 percent threshold. Management had also said the transaction structure provided a route towards full ownership once the threshold was achieved.
Under the offer timetable disclosed in the filing, payment for shares tendered during the initial acceptance period was scheduled for October 30, subject to the applicable conditions. 
The offer period was also scheduled to reopen for five trading days from November 2 to November 6, allowing shareholders who had not tendered their shares during the initial period another opportunity to participate. Payment for shares tendered during this reopened period was scheduled for November 13.
The acquisition covers Iveco's commercial vehicle businesses and excludes its defence business, which is being separated from the group. The transaction is intended to combine Tata Motors' commercial vehicle operations with Iveco's international presence and product portfolio, expanding the Indian manufacturer's reach in global markets.

Export growth 
The Iveco transaction was a key topic during Tata Motors' Q2 FY27 earnings call, where management also discussed the company's operating performance and international expansion.
Responding to a question from Motoring Trends on the sustainability of the 177 percent year-on-year increase in commercial vehicle exports during the quarter, Wagh attributed a significant part of the growth to an order secured from Indonesia.
The company expects the Indonesian order to contribute during the current financial year and a substantial part of the following financial year. Management also reported healthy double-digit quarter-on-quarter growth in exports outside Indonesia between the first and second quarters, supported by improvements in sub-Saharan Africa, Nepal and Sri Lanka.
The response indicates that the exceptional year-on-year growth was largely driven by the Indonesian order, although the company also reported an improvement in its other export markets.
The international expansion assumes added significance in the context of the Iveco acquisition, which would broaden Tata Motors' commercial vehicle presence beyond India. However, management did not provide a quantified estimate of the acquisition's future contribution to exports or specify how the combined businesses would affect individual market positions.

Pressure on margins
The management was also questioned about the company's ability to sustain profitability as revenue grew by around 42 percent while EBITDA margins declined by 90 basis points.
Wagh outlined three measures to protect profitability including improving cost efficiencies, particularly in variable costs, controlling expenses and implementing calibrated price increases.
He added that the company was seeking to balance cost recovery with the need to protect demand momentum, while maintaining EBITDA margins above 10 percent in line with its commitment to the market.
The response comes against a backdrop of rising commodity costs, which management said continued to put pressure on the business. Tata Motors has been using a combination of pricing actions and internal cost measures to absorb these increases without fully passing the burden on to customers.

EV profitability 
The profitability outlook for electric commercial vehicles, following reported growth of around 2.4 times in electric commercial vehicle volumes during Q2 FY27, was also raised during the call. 
Asked when Tata Motors expected its electric truck and bus business to achieve profitability compared with diesel vehicles, Wagh said it evaluates profitability at the individual-model level and was satisfied with the progress of its electric vehicle business.
Rather than providing a specific profitability timeline, he highlighted the company’s focus on pricing, accelerating total cost of ownership parity for customers and offering an integrated ecosystem solution.
The top executive noted that the approach went beyond the vehicle itself to support the transition from internal combustion engine vehicles to electric alternatives. He did not specify when electric commercial vehicles would achieve profitability parity with their diesel counterparts.

Q2 earnings
Wagh said the company had delivered another quarter of strong financial performance supported by disciplined execution, operational agility and a continued focus on profitable growth.
Standalone revenue for the quarter rose 42 percent year-on-year to INR 239.3 billion, the company's highest-ever revenue for a second quarter. EBITDA increased 31 percent to INR 28.06 billion, while the EBITDA margin stood at 11.7 percent, unchanged sequentially but down 90 basis points from a year earlier.
Operating leverage, disciplined pricing actions and cost-efficiency measures partially offset the impact of commodity inflation.
The EBIT margin declined 50 basis points year-on-year to 9.7 percent. Profit before tax and exceptional items increased 51 percent to INR 26.6 billion, while profit after tax rose 310 percent to INR 21.38 billion. The sharp increase in net profit reflected a lower comparison base following an investment impairment recognised in the second quarter of fiscal 2026.
Strong operating performance and working capital management generated free cash flow of INR 46.06 billion during the quarter, taking first-half fiscal 2027 free cash flow to INR 57.21 billion.
Net cash for the domestic business stood at INR 113.48 billion as of September 30, 2026. Return on capital employed in the automotive business remained robust at 65 percent.
Consolidated revenue increased 36 percent year-on-year to INR 253.38 billion in the second quarter of fiscal 2027.
EBIT rose 30 percent to INR 27.7 billion, while the EBITDA margin stood at 10.9 percent, down 40 basis points year-on-year but unchanged sequentially. The consolidated EBIT margin was 8.9 percent, an increase of 20 basis points from a year earlier.
Profit before tax and exceptional items rose 423 percent year-on-year to INR 17.8 billion, while profit after tax increased 244 percent to INR 12.53 billion.
The year-on-year increase in profit reflected a lower comparison base following a higher mark-to-market loss on Tata Capital investments recognised in the second quarter of fiscal 2026.
Tata Motors reported consolidated net cash of INR 158.8 crore as of September 30, 2026.
Tata Motors intends to build on the prevailing demand momentum while ensuring supply readiness, Wagh said.
Commodity costs are expected to remain a headwind. The company plans to mitigate the pressure through cost management, operating efficiencies and calibrated pricing actions.
Its priority remains sustainable, profitable growth and long-term value creation for stakeholders.

Comments (0)

ADD COMMENT

Link Copied!