When Tata Motors acquired Jaguar Land Rover from Ford for $2.3 billion, or ₹202 billion, in 2008, sceptics wondered if the Indian truck maker could revive two struggling British luxury brands. In 2024-2025, JLR generated £29.0 billion, or ₹3,428 billion, in revenue, nearly 2.5 times more than the ₹1,235 billion of Tata's entire domestic business. Now, with its €3.8 billion, or ₹388.6 billion, bet on Italy's Iveco, Tata is banking it can work the same magic again.Tata Motors' €14.1, or ₹1,442, per share offer for Iveco represents a hefty 34-41% premium to the three-month volume-weighted average price, even after accounting for an estimated €5.5-€6.0 extraordinary dividend. The annual revenue of the combined commercial vehicle entity would be €22 billion, or ₹2.25 trillion, nearly double Tata's current operations.
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