In what comes as a major announcement in the commercial vehicle industry, Tata Motors, one of India’s leading CV player, is set to acquire Europe’s Iveco Group’s CV business for EUR 3.8 billion. The transaction, if approved, is expected to close in the first half of 2026.

The deal once through will create a ‘force majeure’ in the global CV industry, combining Tata Motors’ frugal engineering strength with Iveco Group’s strength in electrification and the alternative energy domain.

The offer, made by Tata Motors CV Holdings (a Tata Motors affiliate), aims to acquire 100 percent of Iveco’s common shares post the separation of Iveco’s defence business. The tender offer price is set at EUR 14.1 per share, with an additional estimated EUR 5.5–6.0 per share dividend to be distributed from the proceeds of the defence business sale.

Exor N.V., Iveco's largest shareholder, has agreed to tender its 27.06 percent stake and support the proposed resolutions at Iveco’s upcoming extraordinary general meeting (EGM). The deal has the unanimous backing of Iveco's board, which has recommended the offer to its shareholders.

The combined group will operate across key markets including Europe (50 percent), India (35 percent) and the Americas (15 percent), with annual sales of approximately 540,000 units and combined revenue of around EUR 22 billion. Tata Motors and Iveco expect the partnership to enhance their ability to invest in zero-emission transport, optimise global supply chains and expand product innovation.

Subject to regulatory approvals and shareholder support, the parties plan to finalise the separation of Iveco’s defence business by March 2026. Should this not occur through a sale, the business will be spun off into a newly listed entity by April 2026 to allow the main offer to proceed.

As part of the understanding, Tata Motors has also committed to a two-year non-financial covenant period post-settlement, including no direct workforce reductions or plant closures and preserving Iveco’s identity, brands and headquarters in Turin, Italy.

Both companies emphasised that the move will establish a globally competitive platform equipped to address shifting mobility trends and create long-term value for stakeholders.

The combined group will be better positioned to invest in and deliver innovative, sustainable mobility solutions by leveraging both supplier networks to serve customers globally. It will also unlock superior growth opportunities and create significant value for all stakeholders in a dynamic marketplace. By preserving each group’s industrial footprint and employee communities, this complementarity is also expected to foster a smooth and successful integration process. It will also enable the capabilities of Iveco Group’s successful powertrain business, FPT, to be further enhanced.

Natarajan Chandrasekaran, Chairman, Tata Motors, said, “This is a logical next step following the demerger of the Tata Motors Commercial Vehicle business and will allow the combined group to compete on a truly global basis with two strategic home markets in India and Europe. The combined group's complementary businesses and greater reach will enhance our ability to invest boldly. I look forward to securing the necessary approvals and concluding the transaction in the coming months.”

Suzanne Heywood, Chair, Iveco Group, said, "We are proud to announce this strategically significant combination, which brings together two businesses with a shared vision for sustainable mobility. Moreover, the reinforced prospects of the new combination are strongly positive in terms of the security of employment and industrial footprint of Iveco Group as a whole.”

Girish Wagh, Executive Director, Tata Motors, said, "This combination is a strategic leap forward in our ambition to build a future-ready commercial vehicle ecosystem. By integrating the strengths of both organisations we are unlocking new avenues for operational excellence, product innovation and customer-centric solutions. This partnership not only enhances our ability to serve diverse mobility needs across markets, but also reinforces our commitment to delivering sustainable transport solutions that are aligned with global megatrends. Together, we are shaping a resilient and agile enterprise, equipped to lead in times of transformative change."

Olof Persson, CEO, Iveco Group, said, “By joining forces with Tata Motors, we are unlocking new potential to further enhance our industrial capabilities, accelerate innovation in zero-emission transport, and expand our reach in key global markets. This combination will allow us to better serve our customers with a broader, more advanced product portfolio and deliver long-term value to all stakeholders.”

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Chennai-based commercial vehicle major Ashok Leyland has released its wholesales of 17,820 units for October 2025, reporting a 16 percent rise in total wholesales compared to 15,310 units for the same month last year.

Total domestic sales grew by 16 percent, reaching 16,314 units for the month, compared to 14,067 units in October 2024. This includes Medium and Heavy Commercial Vehicles sales clocking 14 percent growth to 9,611 units. Light Commercial Vehicles (LCV) sales increased by 19 percent YoY, from 5,630 units to 6,703 units.

With this, cumulative wholesales for YTD FY2026 has grown by 6 percent reaching 111,174 units compared to 104,827 units last year.

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Scania Commercial Vehicles India has appointed GMMCO, part of the CKA Birla Group, as its new authorised dealer partner for Northern, Eastern and Central India. This marks a major milestone in Scania's renewed India growth strategy, shifting the company from a direct sales model to a fully dealer-driven ecosystem.

As per the understanding, GMMCO will be responsible for sales and service support for projects across its designated regions. This arrangement complements the existing partnership with PPS Motors, which continues to represent Scania in the Southern and Western territories, ensuring seamless national coverage.

Under the new model, Scania will concentrate on product planning, innovation and lead generation, while its dealers will manage sales, service, aftermarket operations and inventory independently.

Silvio Munhoz, Managing Director, Scania Commercial Vehicles India, said, “The appointment of GMMCO marks an important step in Scania’s India growth journey. GMMCO’s strong industry presence, wide service network and customer-first philosophy make them an ideal partner as we expand into new markets and business areas. This partnership reinforces our long-term vision for India and lays a solid foundation for our next phase of growth, driven by the Scania Super range and our focus on sustainable transport solutions.”

Scania aims to accelerate its global strategy of delivering complete solutions rather than just products. This solution-based approach includes application-specific product selection, tailored service packages and customised financial solutions.

Chandrashekar V, Managing Director & CEO, GMMCO, said, “We are delighted to partner with Scania, a global leader synonymous with innovation, performance and sustainability. This collaboration reflects GMMCO’s commitment to delivering comprehensive, technology-driven solutions that empower our customers across sectors. With our deep industry reach, strong service infrastructure and relentless focus on operational excellence, we are confident of driving Scania’s next phase of growth in India and creating exceptional value for our shared customers."

The expanded dealer network will cater to business segments including construction, long haulage, mining and special applications.

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Montra Electric, the clean mobility arm of the Murugappa Group, has expanded its retail presence in India with the opening of two electric Small Commercial Vehicle (e-SCV) dealerships in Bhiwandi and Panvel.

The new outlets, which operate in the Mumbai Metropolitan Region (MMR), are operated by retail partner Autobahn VoltiGo. The dealerships will offer the Montra Electric EViator, an e-SCV designed for intercity and intracity cargo transport. The vehicle aims to offer efficiency, high uptime and a low total cost of ownership for fleet and logistics operators.

Saju Nair, CEO, Montra Electric e-SCV, (TI Clean Mobility), said, “The EViator is built to deliver power, range, and performance that match the real-world needs of India’s logistics ecosystem. With partners like Autobahn VoltiGo, we’re ensuring that customers in key commercial hubs such as Bhiwandi and Panvel get access to future-ready EV solutions backed by strong service and uptime support.”

Farzad, Managing Director, Autobahn Trucking Corporation, said, “At Autobahn, our purpose is to move our customers’ businesses forward through innovation, trust and performance. Partnering with Montra Electric extends that commitment into the clean mobility space. After successfully establishing Montra Electric operations in Kerala and Pune, we are now expanding to Mumbai at Bhiwandi and Panvel, bringing customers a seamless ownership experience built on accessibility, uptime and service excellence.”

The EViator offers a certified range of 245 km and a real-world range of over 170 km. It features an 80kW motor that delivers 300 Nm of torque and includes telematics to ensure over 95 percent uptime. The e-SCV is supported by a seven year or 250,000 km extended warranty.

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Tata Motors Commercial Vehicles has showcased its range of Euro 6-compliant trucks and buses tailored for the Middle East and North Africa (MENA) region, marking its largest regional unveiling.

The new range reflects the company’s ‘Better Always’ philosophy and is designed to support the region’s transition to cleaner mobility. The vehicles, built for cargo and passenger transport, were engineered and tested across demanding terrains to deliver comfort, operational efficiency and enhanced safety.

Asif Shamim, Head – International Business, Tata Motors Commercial Vehicles, said, “As the MENA region continues to advance its economic diversification and infrastructure ambitions, there is a growing demand for smarter, efficient and advanced mobility solutions. Tata Motors Commercial Vehicles has been a trusted partner in this journey for about six decades, and the latest range of trucks and buses reflect our long-term commitment to stay ahead of the curve. This comprehensive line-up is engineered to deliver superior performance and reliability, enabling our customers to run businesses efficiently. We are confident that these offerings will set new benchmarks and further strengthen our role in shaping the region’s evolving mobility landscape.”

The showcased models include a spectrum of mobility solutions:

Passenger Mobility Solutions:

• LPO 1622: Available in 11-metre and 12-metre lengths, featuring a Cummins engine, ABS with Electronic Stability Control and cruise control.
• Starbus Prime LP 716: A 28-seater bus with a new-gen 3.3-litre engine, built for school and staff transport, including ABS, ESC and Hill Start Assist.
• Ultra LPO 916: A 33-seater bus offering fuel-efficiency and reliability.

Cargo Mobility Solutions:

• Ultra Range: Built on Tata Motors’ smart truck platform, available from 7-9 tonnes configuration, suitable for intra-city logistics.
• Prima 3430.T: Powered by the 6.7-litre Cummins engine generating 300 HP of power and 1100 Nm of torque, ideal for long-haul operations.
• Prima 3330.K: A tipper designed for productivity in construction and mining operations.

Tata Motors offers a commercial vehicle portfolio in over 40 countries. The company also offers regional support with over 100 strategically located service centres, extended warranty options and Annual Maintenance Contracts (AMC).

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