The Italian group CNH Industrial It is evaluating the possibility of selling its industrial vehicle subsidiary Iveco to the Chinese truck manufacturer FAW, according to information released in the last hours.
Some Italian media point out that the Chinese company presented an offer of more than 4.2 billion dollars (3.5 billion euros). It should be remembered that in July 2020 the Chinese group tried to buy Iveco, but CNH rejected the offer because it was not considered sufficient.
This time the proposal includes a minority entry by FAW in the capital of CNH’s motoring division, FPT Industrial.
Iveco has plants in Europe, China, Australia, Brazil, Africa and Argentina, the one in Córdoba being the only one in the country.
The FAW Group, based in the northeastern province of Jilin, is the main Chinese automobile group. Its subsidiary FAW Jiefang represents the division specialized in truck production.