Italy’s Iveco Group sees 20% revenue growth to 2028 as it expands partnerships

By Thomson Reuters Mar 14, 2024 | 7:48 AM

TURIN, Italy (Reuters) – Italian bus and truck maker Iveco Group said on Thursday it forecast revenue growth of 20% by 2028 as it unveiled a new business plan focused on an expanding product portfolio and industrial partnerships.

Iveco said its net revenues from industrial activities would rise to around 19 billion euros ($20.8 billion) in 2028, from 15.877 billion euros last year.

The company said it would extend and deepen its existing partnership with Hyundai Motor in the area of electric heavy-duty trucks for the European market – both battery-electric and hydrogen fuel-cell ones.

It also announced a preliminary deal with Ford Trucks for potential cooperation for the development of heavy-duty truck cabins.

($1 = 0.9141 euros)

(Reporting by Giulio Piovaccari, editing by Gavin Jones)