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French official: No jobs can be lost in Renault-Fiat merger

PARIS (AP) — France's finance minister says the planned merger between Renault and Fiat Chrysler will only happen if French jobs are protected. Speaking on RTL radio on Tuesday, Bruno le Maire said he has asked for "four guarantees" for the deal to go ahead, including that not a single job or factory on French soil will disappear.

Fiat Chrysler has proposed to merge with France's Renault to create the world's third-biggest automaker, worth $40 billion, and combine forces in the race to make electric and autonomous vehicles. Le Maire said he also wants the merger to take place within the alliance between Renault and Nissan, that French interests "will be well represented" on the board of the new organization, and that the future operation commits to the development of electric batteries.

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