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French government cautious on Fiat-Chrysler-Renault hookup

Posted on Sunday, May 26th, 2019 By Angela Charlton, Associated Press

PARIS (AP) — France's government is sounding a note of caution about a possible alliance between French automaker Renault and Fiat Chrysler Automobiles.

Both companies are in talks about a tie-up, as major carmakers around the world try to share the significant costs of developing autonomous and electric vehicles. Renault's board is meeting Monday morning.

The French state owns 15% of Renault, and a French official said Sunday that the state will only agree to a potential alliance with Fiat Chrysler if it makes sense for jobs and France's national interests.

The official told The Associated Press that Japanese authorities have also been informed, and that France would prefer a tie-up within the existing Renault-Nissan-Mitsubishi alliance. The official wasn't authorized to be named discussing talks that haven't been made public.

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