50 years of AMCE–IVECO collaboration is more than a business milestone — it’s a testament to Ethiopia’s journey toward industrial self-reliance. At EIH, we’re proud to steward partnerships that turn global expertise into local impact
AMCE (Automotive Manufacturing Company of Ethiopia), a portfolio company of Ethiopian Investment Holdings (EIH), proudly marks 50 years of partnership with global automotive leader IVECO. Since 1975, this collaboration has played a defining role in Ethiopia’s transport and industrial development.
Addis Ababa, 14th July 2025
Established in 1970 and entering a joint venture with FIAT/IVECO shortly thereafter, AMCE has assembled and delivered more than 30,000 IVECO commercial vehicles over five decades including the iconic 682N3 trucks, Trakker, IVECO T-Way, Leoncino buses, and specialized trailers built to serve Ethiopia’s growing logistics and public service sectors.
The impact of the AMCE and IVECO partnership extends beyond assembly lines. It has enabled technology and skills transfer across Ethiopia’s industrial ecosystem—spurring the growth of local manufacturers. The after-sales and maintenance sector has similarly benefited, with technical expertise shared with workshops and service providers from Adama to Bahir Dar.
As Ethiopia continues to prioritize industrialization and logistics modernization, IVECO and AMCE remain committed to supporting these goals through advanced vehicle solutions, workforce training, and local value creation.
Dr. Brook Taye, CEO of Ethiopian Investment Holdings, commented: “AMCE stands as a model of how joint ventures can deliver long-term economic and social value for Ethiopia. This partnership has been instrumental in strengthening Ethiopia’s automotive capacity and driving sustainable industrial growth. The next phase of our partnership will focus on addressing the logistics sector constraints in partnership with our portfolio companies and the private sector and introducing a wide range of IVECO’s electric vehicle options to the Ethiopian market.”
Antonio Caruso, AMCE General Manager, added: “For 50 years, AMCE and IVECO have worked hand-in-hand to deliver durable, reliable, and locally assembled vehicles that move Ethiopia forward. We are proud of the legacy we’ve built together and look forward to continuing this journey of innovation and partnership.”
About AMCE
Founded in 1970, AMCE is Ethiopia’s pioneer in vehicle assembly and industrial automotive services. The company operates under a joint venture structure, with 70% ownership by IVECO and 30% by the Ethiopian government through Ethiopian Investment Holdings.
About EIH
Ethiopian Investment Holdings (EIH) was established under the Council of Ministers Regulation No 487/2022. EIH aims to contribute to sustainable economic development by professionally managing its funds and assets, optimizing their use in line with international best practices and corporate governance principles. As the strategic investment arm of the Ethiopian government, EIH strives to maximize value for the benefit of current and future generations. Additionally, EIH seeks to attract foreign investment through a co-investment platform, asset consolidation for monetization, and unlocking value from unutilized assets, thereby ensuring the highest possible return on investment.
IVECO
IVECO is a brand of Iveco Group N.V. (EXM: IVG). IVECO designs, manufactures and markets a wide range of light, medium and heavy commercial vehicles, off-road trucks and vehicles suitable for any body type.
It constantly innovates and extends its product portfolio to provide every customer with the vehicle that matches their mission precisely.
IVECO’s full-line offer is designed around the Driver’s needs to ensure an excellent experience with a focus on safety and comfort. A wide range of advanced digital, connectivity-enabled services developed to help fleet owners run their fleet efficiently enhance IVECO’s complete transport solution.
IVECO pursues its decarbonisation strategy through a multi-energy approach that includes the further development of diesel and HVO, natural gas and bio-methane, battery electric and hydrogen technologies.
It has established a global presence with a manufacturing footprint that includes 7 production sites and 8 Research and Development Centres. 3,300 sales and service outlets in over 160 countries guarantee technical support wherever an IVECO vehicle is at work.
Guided by its ‘Spirito in Movimento’, IVECO is transforming the transport industry driven by groundbreaking advancements in technology, sustainability, and design, with the ambition to be the most reliable partner and premium, full-line player for its customers.
For further information, please contact:
IVECO Press Office – Africa & Middle East
Anna Pancaldi
E-mail: anna.pancaldi@ivecogroup.com
Ethiopian Investment Holdings
Dagmawi Zeleke
E-mail: dagmawi.zeleke@eih.et
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