Iveco plans new heavy truck partnerships

By Categories: NewsPublished On: Thursday 21 March 2024

A fuel-cell version of the eDaily has already been developed in conjunction with Hyundai

Manufacturer Iveco, now independent of the Case New Holland group, has announced strategic alliances with Hyundai and Ford Otosan, and disposal of its Magirus fire-fighting equipment division.

It unveiled its new Strategic Plan to 2028 and “Unlimited Pathways” for its five business units at its first Capital Markets Day, held in March.

Hyundai Motor of South Korea and Iveco Group have expanded their partnership to explore synergies for both battery-electric and fuel-cell heavy-duty trucks in the European markets.

Iveco recently launched its first battery-electric heavy truck, the S-eWay, which was developed in partnership with American start-up Nikola, but Iveco has more recently taken full ownership of the joint venture. Iveco has previously worked with Hyundai in the production of the Iveco eDaily fuel cell van revealed at the IAA Show in September 2022, followed by a fuel-cell bus in 2023. It will also market an electric light commercial vehicle based on the Hyundai eLCV platform.

The agreement with Ford Trucks, the heavy commercial vehicles brand of Turkey’s Ford Otosan, is a non-binding memorandum of understanding to explore the collaborative development of a cabin structure for heavy-duty trucks compliant with the new regulations coming into force in 2028/2029. This is a preliminary step in the co-development of new products and technologies, encompassing components and systems within the cabin.

Loss-making Magirus, founded in 1864 and the oldest of the companies that formed Iveco in 1975, is to be transferred to Mutares, an investor with a diverse portfolio of businesses including Peugeot Motorcycles and Steyr Motors.

Iveco’s truck business unit aims to leverage its leadership in the light commercial segment with the Daily and eDaily, and in the medium-duty truck range with the well-known Eurocargo, while improving the margins of its heavy-duty truck segment with the S-Way and S-eWay models.

Technological innovation, including financial discipline and strategic partnerships will drive its success, it says, with emphasis upon energy transition, artificial intelligence (AI) and software-defined vehicles, and autonomous driving. It is already testing autonomous driving on European public roads in Europe in collaboration with Plus, a global provider of self-driving truck technology, alongside other truck manufacturers.’

Iveco’s powertrain business unit, FPT Industrial, is one of the top three independent engine manufacturers globally. Its focus on both internal-combustion engines and ePowertrains positions it for the shift towards alternative fuels and electrification, ensuring a sustainable and profitable future.

Gerrit Marx, Iveco Group’s CEO, said, “The first of our values states that ‘we go beyond the obvious’. It embodies the soul of our Group and clearly reflects our ambition to consciously push limits and courageously set out on new pathways. We have demonstrated that we can fulfil the promises we make.

“Today we commit ourselves to a new plan, an acceleration of our product portfolio, stronger and more diverse partnerships, and a dial up our sustainability journey. We will deliver these commitments because the pathways and opportunities in front of us and our five business units are exciting and unlimited.

“Moreover, while we are drawing upon possibilities internally, we will continue exploring powerful opportunities outside. We will always go beyond the obvious.”