CNH ends talks with China’s FAW Group on sale of Iveco unit

MILAN: The billionaire Agnelli family’s CNH Industrial NV ended talks to sell its Iveco truck and bus business to China FAW Group Co, a move that was welcomed by the Italian and French governments.

“CNH Industrial believes there are significant opportunities to develop its On-Highway business by accelerating the deployment of ever more sustainable transport solutions and infrastructure, in line with the EU’s Green Deal ambitions, ” the company said Saturday in an emailed statement.