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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PT Tata Motors Distribusi Indonesia, a subsidiary of Tata Motors, has entered into an agreement to supply 70,000 vehicles for deployment in Indonesia. The fleet will support agricultural activities, rural logistics and regional goods movement.

The order consists of 35,000 units of the Yodha pick-up and 35,000 units of the Ultra T.7 truck. These vehicles will be delivered to PT Agrinas Pangan Nusantara, an Indonesian state-owned enterprise tasked with modernising agricultural supply chains and advancing food security.

The vehicles are part of the Koperasi Desa and Kelurahan Merah Putih Project, a strategic initiative aimed at strengthening rural connectivity and economic resilience in Indonesia. The fleet will be distributed through agricultural cooperatives under a phased delivery programme to ensure integration into the national logistics network.

Asif Shamim, Director, PT Tata Motors Distribusi Indonesia, said, “This order reflects the continued acceptance of Indian commercial vehicles in international markets and the confidence of customers in their ability to operate reliably across diverse conditions. The Tata Yodha and the Ultra T.7 are designed for sustained performance, high uptime and efficient operating economics. Their deployment will support agricultural logistics in Indonesia by improving connectivity, enabling more efficient movement of goods across rural and regional networks. We remain committed to expanding the global footprint of Indian mobility solutions through vehicles and offerings that combine scale, reliability and sustained value creation for our customers.”

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Switch Mobility, the electric vehicle arm of the Hinduja Group, has flagged off 272 units of its EiV12 low-floor bus in New Delhi. The deployment is part of a 950-bus contract awarded under the Convergence Energy Services (CESL) tender.

The event, held at Ramlila Maidan, was led by the Chief Minister of Delhi, Rekha Gupta, alongside transport officials and representatives from the Delhi Transport Corporation (DTC). The rollout aligns with the Government of India’s targets for emission-free and accessible public transport.

The 950 e-buses will be stationed at depots across the capital, including Okhla Srinivas Puri, Grand Trunk Road, and Rajghat. Ohm Global Mobility will manage the operational deployment and maintenance of the fleet.

The vehicles are manufactured at Switch Mobility's facility in Tamil Nadu. The project aims to increase the volume of electric buses in operation in Delhi to reduce CO2 emissions and improve urban air quality.

The Switch EiV12 is designed for urban transit with a focus on accessibility and stability. It gets ultra-low entry with kneeling and tilting functions to assist boarding. Floor-mounted batteries for stability and rear-mounted ports supporting dual-gun fast charging.

It features manual/automated wheelchair ramps for passengers with special needs, seniors and parents with prams. The Switch iON system monitors 140 parameters with 80 alerts to track vehicle health and performance.

Ganesh Mani, Chief Executive Officer of Switch Mobility, said, "The flag-off of over 200 Switch EiV12 Low Floor Buses electric buses in partnership with CESL is a significant milestone in strengthening Delhi's electric public transport ecosystem. Switch Mobility is committed to collaborating with city transport authorities to deliver dependable, high-performance electric buses that can scale rapidly. Deployments like these demonstrate how electric mobility can be seamlessly integrated into urban operations while delivering tangible benefits in emissions reduction and passenger experience."

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GreenCell Mobility (GCM) has announced the deployment of 570 electric buses in Delhi to expand the city's zero-emission public transport. The initiative follows an USD 89 million investment round from the International Finance Corporation (IFC), British International Investment (BII) and Tata Capital.

The deployment began with a recent event at Ramlila Maidan, where 500 electric buses were introduced by the Delhi Government.

GreenCell Mobility will supply 12-metre, air-conditioned buses featuring batteries designed for Delhi's road conditions. The vehicles will operate from depots in Rajghat, Dilshad Garden and Seemapuri.

The e-buses come with an Integrated Transport Management System (ITMS), real-time vehicle tracking and internal and reversing cameras. It also is equipped with Passenger Information Systems and infrastructure for differently-abled commuters.

Beyond the capital, GreenCell Mobility is executing projects across several states including 700 buses Uttar Pradesh, 750 buses in Andhra Pradesh, 582 buses in Madhya Pradesh, 400 buses in Bihar and 50 intercity buses for MSRTC in Maharashtra.

Backed by Eversource Capital, GCM currently operates a fleet of over 1,200 electric buses supported by 270 charging stations. Following the recent funding, the company plans to scale its total fleet to over 3,700 electric buses under the National E-Bus and PM Seva E-Mobility programmes.

Devndra Chawla, MD & CEO, GreenCell Mobility, said, “Delhi’s electric bus rollout represents the next phase of India’s public transport transition from pilots to scaled, city-wide adoption. This deployment showcases how institutional capital, policy intent and operational capability can come together to deliver clean mobility at scale. Our focus is not just on adding electric buses but on building a reliable, technology-led public transport ecosystem that cities can depend on over the long term.”

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Mahindra Group has announced plans to build its largest integrated manufacturing facility for automobiles and tractors in Nagpur, Maharashtra. The announcement was made during the Advantage Vidarbha industrial event.

The company has committed a total investment of INR 15,000 crore over a 10-year period to strengthen its footprint in the state. The project includes a 1,500-acre site in Vidarbha and a 150-acre supplier park in Sambhajinagar.

Upon completion, the facility will have an annual production capacity of 500,000 vehicles and 100,000 tractors. Production is scheduled to commence in 2028.

The location provides access to the Samruddhi Expressway and rail links for domestic and export distribution. The Sambhajinagar supplier park will provide components to this new plant as well as existing facilities in Chakan and Nashik to improve logistics and localisation.

The automotive unit will support the NU_IQ architecture and produce vehicles across internal combustion engine (ICE), electric vehicle (EV) and other powertrain technologies. The facility will utilise automation and digital systems. Additionally, Mahindra will acquire land in the Igatpuri-Nashik region to expand engine and product capacities for its technology business.

Devendra Fadnavis, Chief Minister of Maharashtra, said, “Mahindra’s decision to establish its largest integrated auto and tractor manufacturing facility in Maharashtra is a strong endorsement of the state’s robust industrial ecosystem and progressive policy framework. This landmark investment will generate significant employment, accelerate regional development in Vidarbha and surrounding areas, and further reinforce Maharashtra’s position as a leading manufacturing hub in India.”

Rajesh Jejurikar, Executive Director & CEO, Auto and Farm Sector, Mahindra & Mahindra, said, “This facility represents a bold step forward in Mahindra’s manufacturing journey. Designed to support our next generation of vehicles and tractors, it brings together scale, flexibility and advanced technology within one integrated footprint. It strengthens our ability to deliver world-class products while staying true to our commitment to ‘Make in India for the World.’ We are proud to deepen our partnership with the state of Maharashtra through this transformative investment.”

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