Tata Motors Completes First Tranche of Iveco Acquisition with ~89.42% of Ordinary Shares and Announces Leadership Appointments

On November 3, 2026, Tata Motors announced the completion of the first tranche of its acquisition of approximately 89.42% of Iveco's ordinary shares and unveiled the core leadership appointments for the combined entity. Natarajan Chandrasekaran will simultaneously serve as Chairman of Tata Sons, Tata Motors, and Iveco Group. Chandrasekaran has served as Chairman of Tata Sons since 2017. Girish Wagh, Managing Director of Tata Motors, and Balaji, a group executive, will join the Iveco board as non-independent directors. Olof Persson, former CEO of Iveco Group, will remain in his position. Following the completion of the acquisition, the combined new group will have annual revenue of €21 billion and annual sales of nearly 590,000 units. The two companies' operations cover more than 130 countries worldwide, with 27 manufacturing sites and 25 R&D centers, and a total workforce exceeding 73,000. Tata Motors holds a 55% share of India's domestic heavy truck market.