Iveco ready to ‘spin-off’ from CNH Industrial

On January 3, Iveco formally separated from parent company CNH Industrial, and embarked on an exciting new chapter in its transformation journey.

The move saw the separation of CNH Industrial’s ‘on-highway’ assets, providing the Iveco Group with complete control of the way it manages itself and develops in the future.

Iveco Group brands will be spearheaded by the core Iveco and FPT (Fiat Powertrain) businesses, while sub brands Iveco Capital, Heuliez, Iveco Bus, Iveco Defence Vehicles, Astra and Magirus will also form an important part of the on-highway offering.

Iveco says a key benefit of the spin-off will be renewed emphasis on better meeting the existing and future needs of on-highway customers, by taking a more targeted approach to their requirements. Among these areas of interest is to further develop the group’s alternative fuels and propulsion capabilities.

Already a leader in low emission natural gas technologies including CNG and LNG, as well as electrification with the likes of the Daily Electric van, the Iveco Group’s new direction will also allow it to form closer ties with joint venture partners such as Nikola.

The two companies have been working together since 2019, and in September last year the partners unveiled details of their state-of-the-art Ulm, Germany manufacturing facility which last month completed the first of its new Nikola TRE battery electric (BEV) trucks.

Iveco Australia Managing Director, Michael May, said he saw only positives from the spin-off, for owners in Australia and New Zealand.

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

Mr May said that along with these goals, he was confident that owners would now also enjoy enhanced levels of customer service and support.

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“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,” Mr May said.

“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,” he concluded.