Ford Otosan and Iveco sign a major deal: a joint investment of 343 million euros.

Ford Automotive Industry Inc. (FROTO) has signed a cooperation agreement with Iveco S.p.A. for the joint development of new heavy truck cabin models in line with the requirements of the European Union Direct Vision Standard (GSR D Direct Vision Regulation), which will come into effect in 2028, and the goals of reducing carbon emissions.

According to the statement, under the Joint Development Agreement signed between Ford Otosan and Iveco, the parties will design and develop new heavy truck cabins together. Production and assembly will be carried out at each party's own facilities, and the cabins will be marketed under the Ford Trucks and Iveco (IVG) brands. The intellectual property rights arising from the developed cabins will be shared equally between Ford Otosan and Iveco.

A total joint investment of approximately 343 million euros is planned under the agreement. This amount covers engineering and development expenses, prototype materials, production molds, and other supply costs. However, investments for brand-specific design work will not be included in this amount.

It was stated that engineering expenses would be shared equally between the parties, while investment expenditures would ultimately be shared according to sales volumes. It is planned that the first cabins to be developed in this scope will be ready for production by 2028. The project is emphasized as an important step in terms of reducing carbon emissions and ensuring compliance with the EU's direct vision regulation.

The agreement signed between Ford Otosan and Iveco will remain in effect until December 31, 2029. However, the parties have the right to terminate the agreement under certain conditions until November 30, 2026.

The new heavy truck cabins to be developed under the agreement are expected to contribute to the production capacities and sales strategies of both Ford Trucks and Iveco brands. It has been stated that sustainability and efficiency-focused efforts will be prioritized during the engineering and development process, which will continue until the production phase.