Iveco (an acronym for Industrial Vehicles Corporation) is a Turin-based company formed on January 1, 1975, by the merger of five European industrial vehicle brands: Fiat Veicoli Industriali, OM and Lancia Veicoli Speciali (Italy), Unic (France), and Magirus-Deutz (Germany), led by engineer Bruno Beccaria. Today, it manufactures trucks, buses, and specialty vehicles (firefighting, defense, and civil protection) in plants on five continents, and it was split out from CNH Industrial in 2022 as a publicly traded business in Milan. The company is currently under new ownership: on September 4, Consob authorized Tata Motors' entire takeover bid, which followed the ECB's approval of the acquisition of two French financial subsidiaries. Bidding is open from September 7 until October 26 for €14.10 per share, with payment due on October 30. The transaction, announced in 2025 and excluding the Defense section (which Leonardo acquired), is valued at around €3.8 billion. Tata has pledged to keep its headquarters in Turin for two years, with the ultimate goal of delisting from Euronext Milan.