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Iveco (IVECO) is a commercial vehicle brand under the Italian Fiat Group and is also one of the world's leading manufacturers of commercial vehicles. Iveco's product line covers light, medium, and heavy commercial vehicles, and it is also a leader in clean energy commercial vehicles in Europe. Iveco's business in China began in 1985, when it established Nanjing Iveco Automobile Co., Ltd. in partnership with Nanjing Automobile Group Co., Ltd. (a wholly-owned subsidiary of SAIC Group). The joint venture was officially established on December 26, 1995, and officially commenced operations in March 1996. The registered capital is 2.527 billion yuan, with each party holding a 50% stake. Nanjing Iveco Automobile Co., Ltd. has two major product platforms: Iveco and Yuejin, with a product line that spans passenger vehicles, trucks, vans, off-road vehicles, chassis, and special vehicles, offering more than 860 rich models. During its development in China, Iveco has witnessed the rapid development of China's automotive industry and is committed to localizing its products while providing new European commercial vehicles to high-end users in China. Iveco's sales and service network in China is spread throughout the country and has established overseas distribution channels.