Stellantis (STLA.US) Partners With Iveco for Electric Truck Supply, Expanding European Market Reach

Stellantis (STLA.US) and Iveco Group announced on Friday that they had agreed to a deal for the Italian truck manufacturer to supply two full-electric van models, helping Iveco expand its electric van product line in Europe. The companies stated in a joint statement that the supply agreement, which is for a decade, is expected to see Stellantis-produced Iveco brand vans start to be sold in the middle of 2026, but did not provide financial terms. The companies added that the new models would be based on Stellantis' medium and large electric van platforms. The vehicles would be produced at Stellantis' Pro One van division's plants in Italy's Atessa, Poland's Gliwice and France's Hordain, and sold through Iveco's existing European (including UK) channels. The companies said the total weight of the two future Iveco vans would be 2.8-3.1 tons and 3.5-4.25 tons, "which will complement the brand's battery electric products in the European market and extend it to this lighter weight segment." Iveco had previously struck a similar deal with South Korea's Hyundai Motor last year, which will supply medium electric vans with a total weight of 2.5-3.5 tons, expanding an existing partnership. Iveco Group is controlled by Exor, the investment company of the Agnelli family of Italy, which is also Stellantis' largest shareholder.