Tata Motors eyes India manufacturing for Iveco products after acquisition
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Tata Motors plans to manufacture select Iveco products in India following its acquisition of an 89.42% stake for €3.43 billion on October 30.
- ✓Tata Sons Chairman N Chandrasekaran said, "We can drive growth at both ends with this deal." The partnership aims to combine technology and expand their global commercial reach.
Story at a Glance
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- MARKET
- Reported By
- cnbctv18
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Tata Motors plans to localise select Iveco products in India as the companies explore ways to expand in each other's markets and build a larger commercial vehicle business.
Tata Motors is looking to manufacture select Iveco Group products in India as it seeks to expand the Italian commercial vehicle maker's presence in the country following their coming together.
Speaking at a global press conference in Turin, Italy, Tata Sons Chairman N Chandrasekaran said the companies were identifying products that could be made locally, opening up opportunities for Iveco in the Indian market.
"We can drive growth at both ends with this deal," Chandrasekaran said, adding that the partnership would combine the industrial heritage and technology of the two companies.
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