Tata Sons Chairman Discusses Iveco Acquisition with Italian Prime Minister

Tata Sons chairman N Chandrasekaran met with Italian Prime Minister Giorgia Meloni at Palazzo Chigi to discuss the recent acquisition of Iveco Group. The meeting focused on Tata Motors' strategy for the Italian commercial vehicle manufacturer, which has now become an indirect subsidiary of the Indian conglomerate.

Tata Motors finalized the purchase of an 89.42 percent stake in Iveco for approximately 3.43 billion euros on October 30. During a press conference in Turin, Chandrasekaran expressed gratitude to the Italian government for their support throughout the transaction process.

The combined entity plans to leverage complementary product portfolios and geographical strengths to operate in over 130 countries. Integration efforts are currently underway as the companies work to increase their collective global revenue, which is estimated at 21 billion euros.

Chandrasekaran also noted the historical ties between Tata Motors and Turin, recalling that the company's first indigenous passenger car was designed in the city during the late 1990s.