In 1975 Fiat Bus created the brand Iveco (Industrial Vehicle Corporation) which gradually took over operations of Officine Meccaniche (OM) and Orlandi in Italy, Berliet, Renault, Chausson, and Saviem in France, Karosa in the Czech Republic, Magirus-Deutz in Germany, and Pegaso in Spain.

The Ikarus Bus division was sold off in 2006 to Hungary's Műszertechnika Group, acquiring the property of Heuliez and Karosa which became Iveco Czech Republic in 2007.

[6] On 14 September 2011, Fiat Industrial announced the closing of the Italian plant in Flumeri, Campania due to a drastic reduction in production, preparing the relocation of the activities to Annonay, France.

On 25 February 2020, Iveco and Otokar sign an agreement for the joint production of buses at the Sakarya plant in Turkey to be sold in Europe, the Middle East and Africa.

The investment for setting up the production line amounts to around 40 million euros and benefits from the funds made available by the Next Generation EU package.