Italian truckmaker Iveco is reportedly going to be split off as a separate business unit by CNH Industrial – the giant global vehicle and machinery manufacturer controlled by Italy's Agnelli family.
European reports say that CNH is also exploring the possibility of combining Iveco with a competitor.
The spinoff is part of a five-year CNH plan to double profits. 
In the next three years the company says it will separate IVECO, IVECO Bus and the Heuliez Bus brands and its powertrain business into a separate company – one that will have revenues of $US13billion.
What remains will comprise CNH's Case IH and New Holland agricultural machinery business, its construction equipment division and its operation responsible for special vehicles, including fire appliances and military vehicles. That will, it says, have combined revenues of around $US16bn.
CNH chair Suzanne Heywood says: "The bold plan will lead to the creation of two new global leaders in their respective fields."
The move continues a trend begun by the late Sergio Marchionne – Fiat Chrysler's former chief executive – who split both CNH and Ferrari from Fiat, boosting their value dramatically.
CNH says its five-year plan aims to increase its profit margin to 10% by 2024, more than double current levels.
It plans to invest $US13bn in product development in the same timeframe.
The planned split echoes Volkswagen's decision to list part of its own truck brands, MAN, Scania and Volkswagen South America. The combined truck business began trading as Traton Group in June.