FAW Group Be Reportedly in Talks to Buy a Majority Share of IVECO
Italian truck group, IVECO, according to reports overseas, is being shopped around by its parent company.
IVECO owner, CNH Industrial, was reportedly in talks to the sell a majority share in the truck manufacture to Chinese automaker FAW Group.
Having had an offer worth $US3.7 billion rebuffed last July, the Changchun-based FAW, a state-owned Chinese company, has renewed discussions with CNH Industrial to acquire IVECO’s commercial vehicles business which would include trucks and buses and a stake in the engine division.
It is understood CNH Industrial, a subsidiary of the Agnelli family’s holding company Exor, had also held talks with Shandong Heavy Industry Group, another Chinese industrial conglomerate, prior to Christmas.
FAW, which makes heavy duty trucks under its Jiefang brand, is looking to expand outside China as was reported by Reuters, who claims a source had confirmed an improved offer has been made during the most recent negotiations to acquire all of IVECO’s commercial vehicles business as part of its plans to obtain access to the international commercial vehicles market.
IVECO is currently in discussions to develop autonomous truck technologies with Jiefang-affiliated Chinese startup Plus.
At this stage it is still too early to know how this will affect its partnership with Nikola who it is currently building the prototype battery-electric Nikola Tre in Ulm, Germany.
IVECO already makes vans in China with state-owned SAIC Motor, the parent of MG and LDV light commercial vehicles.
In 2019 IVECO defense vehicles became part of CNH Industrial’s commercial and specialty vehicles unit.
- FAW Jiefang Export Volume in Myanmar Reaches a New Record High 2021-01-04
- FAW South Africa Sold 1,344 Units Trucks from January to November 2020-12-08
- Self-Driving Truck Jointly Developed by FAW and Plus Passes Certification Test 2020-11-13
- Jiefang Trucks Loaded with Mongolia-donated Sheep Arrive in China 2020-10-23
- FAW Jiefang, Livox, Zhito to Push Autonomous Heavy Truck Into Smart Driving Era 2020-10-23
- Tractor Sales Continue to Rise with 150,600 Units Sold in Sept. 2020-10-14
- Heavy-duty Truck Sales Hit Record High of 136,000 Units in Sept. 2020-10-10
- FAW Jiefang Place First with 32,500 Heavy-duty Trucks Sold in Sep., Up 54% YOY 2020-10-10
- FAW Jiefang Releases the World’s First L3-level Super Truck 2020-09-09
- China’s Tractor Sales Saw Surging Growth in July 2020-08-13
Submit Your Requirements, We Are Always At Your Service.
- FAW Group Be Reportedly in Talks to Buy a Majority Share of IVECO
- Qingling and Germany-based Bosch to Establish a Joint Venture
- Foton Global Business Partners-Suppliers Conference Held in Xi’an
- Diplomatic Envoys from 12 Countries Visit SHACMAN
- XCMG exhibits Oriental Wisdom at Shanghai Bauma China 2020 Show
- More than 2,800 Exhibitors to Participate in Bauma CHINA
- Better World Better Sany - SANY at Bauma CHINA 2020
- Hyundai Reveals World’s First Hydrogen Fuel Cell Heavy-duty Truck at CIIE
- Daimler and Volvo Sign Binding Agreement to Form a Fuel-cell Joint Venture
- Dongfeng Special Vehicle Starts Building New Factory
C&C Trucks Co., Ltd.
C&C Trucks Co , Ltd (C&C Trucks), located in Sanshan Economic Development Zone, Wuhu, Anhui Province, a holding company under China International Marine Containers (Group) Co , Ltd (CIMC), is a large heavy truck enterprise integrating the research and development, production
- China’s Heavy-duty Trucks Sales Estimated to Reach 1.623 Million Units
- CNHTC Truck Sales Volume in 2020 Exceeds 500,000 Units
- China Sold 136,900 Units NG Engines for Heavy-duty Trucks from Jan. to Nov.
- China Sold 241,000 Units Heavy-duty Self-dumping Trucks from Jan. to Nov.
- Liuzhou Motor Sold 85,000 Units Commercial Vehicles in 2020
- China Sold 472,300 Units Commercial Vehicles in November
- China Sold 135,600 Units Heavy-duty Trucks in November
- Dongfeng Sold 41,574 Units Chassis for Light-weight Special Vehicles
- FAW South Africa Sold 1,344 Units Trucks from January to November
- Foton Saw Sales Growth for 7 Months in a Row