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Tata Motors aims to be among top five CV cos globally on Iveco buy
This story was originally published at 09:13 IST on 30 June 2026
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MUMBAI - Commercial vehicle major Tata Motors has set itself a target to emerge among the world's top five commercial vehicle manufacturers as its proposed acquisition of Italy-based Iveco Group N.V. progresses, Chairman N. Chandrasekaran said at the company's annual general meeting Monday. The combined business is expected to grow annual revenues to $35 billion–$40 billion from the current $25 billion, Chandrasekaran said.
"The proposed acquisition of Iveco marks a strategic step forward in advancing your company's global ambitions," Business Standard quoted Chandrasekaran as saying. The chairman said the acquisition is set to be funded through a mix of debt and internal cash. The debt is to be serviced and repaid through Iveco's future cash flow, he said. The Iveco purchase is expected to be completed by the September quarter.
On the capital expenditure front, Chandrasekaran said Tata Motors would spend 2–4% of its annual revenue, with around 55% of that earmarked for investment in future technologies. Capital spending would remain at the lower end when upgrading existing vehicle platforms and move towards the higher end during major product and technology programmes, as per the report.
Chandrasekaran said geopolitical uncertainty, supply-chain disruptions, and commodity price volatility are major risks for the commercial vehicle business. Tata Motors is mitigating these challenges through higher localisation to reduce supply-chain risks, along with tighter cost management to offset raw material inflation, the chairman said. End
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