Tata Motors' record $4.5 billion offer to buy Iveco's trucks and bus business will expand the commercial vehicle maker's revenues beyond India and give it access to the Italian company's future technologies including electrification.

Tata Motors acquires Iveco Group NV for €3.8 billion, strengthening global commercial vehicle business with debt and equity funding.

Iveco and Tata's commercial vehicle operations together are expected to generate approximately 22 billion euros ($25 billion) in revenue, with Europe contributing around 50%, India accounting for 35%,