Iveco will not be under Chinese control
- CNH Industrial has announced that it has ended its discussions with the Chinese carmaker FAW for the sale of its subsidiary Iveco (trucks, buses), a transaction opposed by the Italian government. CNH Industrial indicates that it has ended discussions with FAW regarding the “On-Highway” business division, which represents the group’s road activities and include the brands Iveco, Iveco Daily, Iveco Bus and Heuliez Bus. The group also has an “Off-Highway” business division which integrates construction and agricultural machinery in particular.
- CNH Industrial (nearly 27% of the capital held by the Agnelli family through its holding company Exor) is a Dutch company created in September 2013 from the merger of Fiat Industrial and its American subsidiary CNH Global. CNH Industrial said it was continuing its existing plans for a split of its activities at the beginning of 2022. The group had announced in 2019 its objective to separate its activities of trucks, buses and commercial vehicles from that of agricultural and construction machinery, by creating a new listed company around Iveco, on the same model as Mercedes for its trucks and buses division.
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