Tata Motors and Italy’s Iveco Group on Tuesday formally began operations as a combined global commercial mobility enterprise, bringing together their complementary vehicle portfolios, manufacturing capabilities and international networks to create the world’s fourth-largest commercial vehicle (CV) manufacturer by sales volumes in the over-six-tonne segment. The combined enterprise is ranked fourth globally by CV sales volumes in the over-six-tonne segment.

Announcing the beginning of the new chapter at a global press meet in Turin, Italy, the companies said the combined enterprise would have a presence in over 130 countries, with revenues of approximately 21 billion euros (over Rs 2.28 lakh crore) and annual sales volumes of around 5.9 lakh vehicles.

The new entity will have more than 73,000 employees across six continents, supported by 27 manufacturing facilities, 25 research and development centres, and a network of approximately 9,300 sales and service centres.…