Tata Motors expands globally with $4.4 bn Iveco purchase and unveils 2031 EV plan

Tata Motors announced a $4.4 bn acquisition of Iveco’s commercial‑vehicle business, a deal that would merge the two companies into one of the world’s largest commercial‑vehicle groups with combined annual sales of over 540,000 units and revenue around €22 bn. The purchase, expected to close in the second quarter of FY27 pending regulatory approval, gives Tata a strong sales and service network in Europe and Latin America, access to new product categories and manufacturing sites in Brazil and Argentina, and reduces its reliance on the Indian CV market.

In parallel, the company laid out a 2031 strategy that will expand its passenger‑vehicle lineup from 15 to 25 models, adding six new fuel‑engine cars and four all‑new electric vehicles. Tata aims for electric‑vehicle sales of 350,000‑400,000 units, representing more than 30% of its passenger‑car sales, and plans to raise annual passenger‑car output to about 1.2 million units by expanding capacity to roughly 1.3 million vehicles. The plan targets a 10% EBIT margin, a revenue increase to over ₹6 trillion, and a broader dealer network across India.