Rheinmetall to Buy Iveco Military Trucks Operation

German defense concern Rheinmetall announced its intention to acquire the military trucks operation of the Italian auto giant Iveco.

Reuters reported on this, citing Rheinmetall CEO Armin Papperger.

“The first ​deal between Iveco and Leonardo had a ​delay, and then our deal also has ⁠a delay,” Papperger said, adding that Rheinmetall maintains weekly contact with Leonardo on this issue.

Italian Iveco signed a final agreement in 2025 to sell its defense-related truck business, known as Iveco Defence Vehicles (IDV) and ASTRA, to the Italian corporation Leonardo. The cost of the deal is estimated at €1.7 billion.

The transaction is expected to close no later than March 31, 2026, subject to customary regulatory approvals and the completion of the asset separation.

The Iveco military trucks operation is known for its tactical armored vehicles, including the LMV family, medium MTVs, and wheeled amphibious armored personnel carriers, VBA.

In addition, the operation produces Eurocargo Military 4×4 and Trakker Military trucks (4×4, 6×6, 8×8), which serve logistical roles and as platforms for radars, command posts, and other specialized systems.

The ASTRA division produces trucks with different payload capacities — HD6, HD7, HD8, HD9, and ACTL — used as chassis for specialized military vehicles.

The sale of the military trucks operation was a necessary step for the subsequent sale of Iveco’s civilian business to the Indian company Tata Motors in a deal worth €3.8 billion.