Iveco and Ford Otosan have signed a non-binding Memorandum of Understanding (MOU) to explore the potential co-development of heavy-duty vehicle cabins.

Iveco announced that it has reached an agreement with German private equity firm, Mutares SE & Co. KGaA, to sell its firefighting vehicle manufacturing unit (Magirus GmbH) for an undisclosed fee, pending regulatory approval.

With an increasing focus on battery packs, electric powertrains and battery management systems for electric Commercial Vehicles (CVs), the firm has active plans to expand its customer base amongst global CV manufacturers.

Iveco announced a positive set of financial results for the 2023 year, including EUR 16 billion in consolidated revenues (up 13% from 2022), an adjusted EBITA of EUR 940 million (up EUR 413 million compared to 2022) and an adjusted net income of EUR 352 million (up EUR 127 million from 2022 figures).

According to the agreement, Hyundai will manufacture and supply the chassis cab, while Iveco Group will handle local customisation and European distribution through its sales network.

No financial details have been announced, but in the agreement, BASF will be responsible for the collection, packaging, transportation and entire recycling operation, mechanically processing the batteries into black mass** from which lithium, cobalt and nickel will be extracted and then reused in the manufacturing of new batteries.

The Hedin Mobility Group is purchasing the dealership and retail services network in the Nordic countries in Sweden (Gothenburg, Helsingborg and Malmö), Norway (Bærum), Finland (Espoo) and Denmark (Odense).

For the very first time, Iveco is renewing its entire truck product line next year. Capital spending on R&D will be ploughed into reducing CO2 emissions, developing fuel efficiency (for ICE vehicles) technology and a new zero-emissions product range.

Tanganelli has worked for UBS in the Investment Banking Division, Fiat Chrysler Automobiles in Business Development, CFO and Head of automotive components manufacturer, Magneti Marelli and most recently, assumed the role of CFO and Head of M&A at the Iren Group.

Iveco has unveiled its new HD BEV (Heavy-Duty Battery Electric Vehicle) and HD FCEV (Heavy-Duty Fuel Cell Electric Vehicles) under the Iveco brand. 

The 3.5-tonne Iveco eDaily has set an official Guinness World Record for the highest weight towed by an electric box van. The vehicle pulled three trucks with a total weight of 153.8 tonnes over the required distance of 30 metres.

Nikola Iveco Europe will now be renamed as EVCO (Electric Vehicles Company).