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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Tata Motors has announced strong commercial vehicle sales for Q2 FY2026, with total domestic and international sales reaching 94,681 units. This marks a substantial 12 percent increase compared to the 84,281 units sold in Q2 FY2025.

The surge was particularly pronounced in September 2025, which saw a 19 percent YoY increase with 35,862 units sold, up from 30,032 units in September 2024. The company's international business grew significantly with a massive 75 percent growth for the quarter.

Across the second quarter, several segments reported double-digit growth. Small Commercial Vehicle (SCV) Cargo and Pickup grew 11 percent to 34,732 units in Q2 FY2026 (up from 31,399 units in Q2 FY2025). This portfolio saw exceptional performance in September 2025, recording a 30 percent YoY increase.

Intermediate and Light Commercial Vehicle (ILMCV) Trucks also performed strongly, with sales rising 15 percent to 16,845 units for the quarter. The heavy commercial vehicle (HCV) trucks segment posted a modest 5 percent growth, selling 24,056 units in Q2 FY2026. Passenger Carriers grew 5 percent for the quarter, reaching 11,428 units.

Overall domestic sales for commercial vehicles rose 9 percent to 87,061 units in Q2 FY2026, up from 79,931 units in Q2 FY2025.

Girish Wagh, Executive Director, Tata Motors, acknowledged the volatile market conditions but expressed optimism about the company's swift response and future outlook.

“Q2 FY2026 was a mixed quarter for the commercial vehicles industry, start marked by subdued market conditions and ending with a promising resurgence in demand. While July faced headwinds due to monsoon and August reflected cautious sentiment ahead of the GST 2.0 rollout, the onset of the festive season and lower GST rates from late September brought a good recovery in sales, bookings and sentiment," Wagh stated.

He further elaborated on the strategies that led to the strong September performance.

"Following the GST reduction announcement, we acted swiftly and decisively to capture the growth in demand—by enhancing product availability, sharpening our pricing strategy, and intensifying market activations. These initiatives helped us unlock demand across segments, making September our best-performing sales month in FY2026, driven by a strong 30 percent YoY growth in our SCV and PU portfolio led by the new launches, Ace Pro and Ace Gold+. Overall, in Q2 FY2026, Tata Motors Commercial Vehicles delivered sales of 94,681 units, registering a growth of 12 percent over the same period last year. We continue to build strong differentiation for our expansive range of trucks that now offer higher power output of up to 320hp. With smart engineering and a relentless focus on operational efficiency, our trucks remain the preferred choice for fleet owners seeking better performance, higher profits and long-term value.”

Looking ahead, the company anticipates continued growth, driven by key economic indicators and product pipeline.

"Looking ahead, with the festive season underway, improving consumption, and the full impact of GST reforms yet to unfold, we anticipate a strong second half for FY2026. Construction, infrastructure and mining activities will gain momentum, further fuelling demand for trucks and tippers. With a robust pipeline of upcoming launches, and a richer, more customer-aligned product portfolio, we are well-positioned to accelerate this momentum and drive meaningful, broad-based growth across all commercial vehicles segments,” Wagh concluded.

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Mitsubishi Fuso Truck and Bus Corporation (MFTBC) has announced it will participate in the Japan Mobility Show 2025 (JMS 2025), set to run from 30th October to 9^th November 2025, at Tokyo Big Sight.

Under the theme ‘Future Together: A new era of trucks begins – run together with Fuso,’ the commercial vehicle manufacturer plans to showcase its vision for the future of transportation, focusing on advanced solutions to tackle current logistics challenges.

The centrepiece of MFTBC's exhibit will be the world premiere of the COBODI (Connected Load Body) concept, which will be featured on its all-electric light-duty truck, the eCanter.

Described as a unique 'smart body' and 'digital solution' concept, COBODI aims to revolutionise logistics by connecting human-centric body design with Wise Systems, an AI-based automated routing and dispatching solution. This integration is designed to optimise route planning and parcel loading, significantly reducing the burden on drivers, shortening unloading times and enabling more efficient fleet management. MFTBC plans to conduct demonstrations of the COBODI workflow at the show.

In addition to the COBODI concept, MFTBC's booth will feature:

• A World Premiere Vehicle: Details on a new concept vehicle will be announced at a later date.
• Fuso Services & Solutions Area: A display of various solutions supporting logistics efficiency and the transition for businesses to adopt EV trucks.
• Sustainable Future Activities: The company will host interactive activities, including a workshop to create keychains from recycled plastic and an AI chatbot for visitors to learn about carbon-neutral vehicles.

MFTBC’s participation underscores its push to introduce cutting-edge technologies to enhance the efficiency of commercial vehicles and logistics as the industry shifts into a new era.

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Mahindra and Mahindra (M&M), the world's largest tractor company by volume, is selling its entire stake in its wholly-owned Finnish subsidiary, Sampo Rosenlew Oy, to Tera Yatirim Teknoloji Holding Anonim Sirketi (TERA). The agreement was executed via a Share Purchase Agreement (SPA).

Upon completion of the transaction, Sampo Rosenlew will cease to be a wholly-owned subsidiary of Mahindra & Mahindra.

This divestiture marks a strategic move for Mahindra & Mahindra, aligning the company's focus with opportunities that are best positioned to deliver long-term success.

Sampo Rosenlew, which became part of the Mahindra group in 2016, has played a significant role in advancing Mahindra’s capabilities. According to the company statement, some of the technologies developed by the Finnish firm have been ‘instrumental’ in building Mahindra’s farm machinery capabilities.

By transferring ownership to TERA, Mahindra believes it is empowering Sampo Rosenlew to pursue new pathways for innovation and growth. The move is expected to allow the manufacturer to build upon its rich heritage and deep understanding of the Finnish and European markets under new ownership.

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Montra Electric eM&HCV, the electric commercial vehicle brand of the Murugappa Group, made a significant stride in India’s clean mobility transition today with the launch of its new 55-tonne electric truck – the Rhino 5538 EV 4x2 TT.

The unveiling took place at the company’s new eM&HCV manufacturing facility in Manesar, Haryana. The event also marked the inauguration of India's first all-women monitored, fully Automated Battery Plant and a new eM&HCV conveyor line equipped with Automated Guided Vehicles (AGVs).

The new Rhino 5538 EV 4x2 TT is designed for long-haul freight and will be available in two variants: one with a standard fixed battery pack and another offering a battery-swapping option. The fixed-battery variant is priced at INR 11.5 million (ex-factory).

The most crucial announcement was the commercial launch of the 'Battery Swap' solution for the Rhino 5538 EV 4x2 TT and the existing 6x4 TT models. This technology aims to tackle one of the primary hurdles in commercial EV adoption: charging downtime. The company claims the swap process takes less than 6 minutes, a stark contrast to the over one hour required for conventional fast charging.

The battery swap station boasts a 7+1 configuration and advanced automation, built to handle over 160 swaps per day at peak utilisation. Its drive-through design allows tractor-trailers to move in and out seamlessly, enhancing operational efficiency for large fleets.

The new 55-tonne e-truck is powered by a 282 kWh LFP battery, delivering 380 HP and 2000 Nm torque, with a claimed range of nearly 198 km on a single charge under standard test conditions. The vehicle features a 6-speed AMT transmission and is backed by an extended 10-year/900,000 km AMC contract, including a 95 percent uptime guarantee.

M A M Arunachalam (Arun Murugappan), Chairman, Montra Electric (TI Clean Mobility), said, "At Montra Electric, we are building products and services that directly address the biggest hurdles in commercial EV adoption. With innovations like battery swapping for heavy-duty trucks and purpose-built platforms across segments, we are making clean mobility seamless, reliable and economically viable for fleet operators. This approach strengthens our vision of building a full-spectrum sustainable mobility ecosystem. Each step we take is designed to accelerate India’s shift towards cleaner logistics, ensuring that sustainable mobility becomes the norm rather than the exception."

The expansion builds on the success of Montra Electric’s first heavy-duty electric truck, the 6x4 TT, which has already clocked over 12 million kilometres in two years.

Jalaj Gupta, Managing Director, Montra Electric (TI Clean Mobility), said, “It is a milestone in Montra Electric’s journey of putting India firmly on the global map of sustainable mobility with the introduction of battery swapping technology. Launch of the Rhino 5538 EV 4x2 TT, in one of the largest industry segments, demonstrates our commitment to innovation, localisation and sustainability.”

“All the new additions to our manufacturing facility, automated battery plant, battery swap technology and the conveyor line integrated with Automated Guided Vehicles (AGVs), will collectively unlock greater efficiency, reliability and localization. These advancements position India to take significant strides in driving innovative, technology-led, clean freight solutions. With the government’s thrust through initiatives like the PM E-DRIVE scheme, the adoption of e-trucks is set to accelerate rapidly,” added Gupta.

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