Tata Sons Chairman Chandrasekaran Engages with Italy’s Prime Minister Meloni Following Iveco Acquisition
NEW DELHI: Tata Sons Chairman N Chandrasekaran met Italian Prime Minister Giorgia Meloni in Rome to discuss the Indian conglomerate’s recent acquisition of a controlling stake in Iveco Group, a leading Italian commercial vehicle manufacturer. The meeting is part of ongoing efforts to strengthen industrial and economic ties between India and Italy. Chandrasekaran outlined Tata Group’s strategy following the acquisition, which was finalized on October 30 when Tata Motors secured an 89.42% stake in Iveco for approximately 3.43 billion euros.
The acquisition positions Iveco as an indirect subsidiary of Tata Motors, enabling both companies to enhance their volumes, revenues, and margins over the next five years. During a global press conference at Iveco’s headquarters in Turin, Chandrasekaran emphasized that the partnership aims to create a global commercial vehicle powerhouse. He expressed gratitude to the Italian government for its support throughout the acquisition process, specifically thanking Meloni and Minister Adolfo Urso.
Chandrasekaran also reflected on Tata Motors’ historical ties to Turin, recalling how former chairman Ratan Tata chose the city for the development of the company’s first indigenous passenger car in the late 1990s. He noted that the design of this vehicle took shape at the Turin-based design house Idea, establishing a long-standing connection between Tata Motors and the Italian city. The collaboration between Tata Motors and Iveco is expected to leverage their complementary product portfolios and geographical strengths, providing a presence in over 130 countries across Europe, India, South America, Asia, the Middle East, and Africa. Their combined revenues are estimated at 21 billion euros, or about Rs 2,28,000 crore. The integration process is ongoing as Tata Motors and Iveco move into the next phase of strategic planning.
