Commercial vehicle maker has secured the majority of regulatory approvals for the Iveco acquisition, and the transaction is expected to be completed by the second quarter of this fiscal, Chairman N Chandrasekaran, said on Monday.
Addressing shareholders at the company’s second Annual General Meeting here, he said the deal is a significant strategic step in advancing Tata Motors’ global ambition.
In July 2025, Tata Motors announced the acquisition of Italian commercial vehicle maker Iveco Group, excluding its defence business, for euro 3.8 billion.
“A transaction of this scale, spanning multiple geographies, requires a series of mandatory regulatory approvals,” Chandrasekaran said at the AGM.
Tata Motors has secured the majority of these approvals and is progressing well on the remaining few, he said, adding that “We look forward to completing the transaction by Q2 FY27.”
Chandrasekaran said the Iveco acquisition will enable the company to access advanced powertrain and next-generation technologies and strengthen its long-term innovation pipeline.
Besides, it would also complement and extend the established presence of Tata Motors’ commercial vehicles’ enhanced product capabilities across geographies.
The proposed acquisition would also enable the company to serve diverse markets with greater competitiveness and agility in line with evolving mobility needs, he said.
“Together, we will optimise, scale and grow to be ranked amongst the top four commercial vehicles entities, globally,” Chandrasekaran said.
Stating that Tata Motors’ progression is anchored in a deliberate strategy to diversify, de-risk, and drive profitable growth, he said, “Our approach has been that every business should define its strategy for the ‘right to win’ and “execute with discipline.”
Beyond its core vehicle segments, the company is now seeing good momentum across emerging and non-cyclical businesses, to ensure resilience through market cycles and deliver more consistent performance, he said.
Tata Motors’ subsidiary, TML Smart City Mobility Solutions, scaled meaningfully with over 3,800 electric buses deployed across 10 cities, he said.
“Our international business, too, recorded strong growth of 53.9 per cent, driven by deeper market penetration and key order wins,” Chandrasekaran said.