IVECO formally separates from parent company CNH Industrial

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IVECO has formally separated from parent company CNH Industrial.

With the separation of CNH Industrial’s ‘on-highway’ assets, the IVECO Group now has entire control over how it operates itself and develops in the future.

The spin-off was made official on January 3rd 2022, with IVECO Group brands now being spearheaded by the core IVECO and FPT (Fiat Powertrain) businesses.

According to the official announcement, the company’s new direction will allow it to form closer ties with joint venture partners such as Nikola.

The two businesses have been collaborating since 2019. In September of last year, they released details of their state-of-the-art manufacturing plant in Ulm.

“This spin-off will unify IVECO and provide the added freedom to further develop the brand’s potential as an exclusive on-highway business,” said IVECO Australia Managing Director, Michael May.

“The change will also allow a more targeted management focus, which will assist in accelerating innovation goals and the rate at which new products are brought to market, while also responding more nimbly to customer requirements.”

“We’ve worked hard last year to elevate the IVECO customer experience – existing and prospective operators should see a further streamlining of these efforts in the 12 months ahead.”

“In addition to providing a high-quality product, we want IVECO ownership to be as rewarding and cost-effective as possible, by offering more value-added services, improved parts availability, and other broader support offerings.”

Image credit: https://www.iveco.com.au/press-release/iveco-ready-for-spin-off-from-cnh-industrial