FPT Industrial, since 2022 a brand of Iveco Group, is a company with a long pedigree in the design, production, and sale of powertrains and solutions for on- and off-road vehicles, as well as marine and power generation applications.
The company began as a division of the Italian auto giant Fiat Group. Fiat Power Trains (FPT) was a multinational designer and manufacturer of transmissions, axles, diesel and gasoline engines that was established in March 2005 as a Fiat Group division which included all the activities related to powertrains and transmissions. The company was formed following the dissolution of the alliance between Fiat and General Motors.
Between 2005 and 2011, the company also included industrial and commercial powertrain activities that were subsequently spun off as a separate entity named FPT Industrial, which is currently an Iveco Group brand.
Years earlier, IVECO (an acronym for “Industrial Vehicles Corporation”) was incorporated as an Italian multinational transport vehicle manufacturing company. The name IVECO first appeared in 1975 after a merger of five different Italian, French, and German brands: FIAT Veicoli Industriali (with headquarters in Turin), OM (Brescia, Italy), Lancia Veicoli Speciali (Italy), Unic (France) and Magirus-Deutz (Germany). Today, its production plants are in Europe, China, Russia, Australia and Latin America and it has about 5,000 sales and service outlets in over 160 countries. The worldwide output of the company amounts to around 150,000 commercial vehicles with a turnover of about €10 billion.
In 2011, Fiat Industrial was formed, incorporating IVECO, FPT Industrial and other brands. In September of the same year, the Fiat Industrial Village was inaugurated in Turin, a multipurpose centre belonging to Fiat Industrial and created for the sales, assistance, and product presentation for the IVECO, New Holland, and FPT Industrial brands.
In 2022, IVECO became a subsidiary of Iveco Group N.V., a holding company incorporated in the Netherlands, and is listed on the Italian stock exchange (Borsa). On January 1, 2022 IVECO became a part of Iveco Group N.V., the parent company of the trucks and specialty vehicles, powertrain and related financial services businesses previously held by CNH Industrial.
Today, IVECO and FPT Industrial participate in trade shows around the world and market to a truly global customer base.