Fiat Chrysler confirms talks with French carmaker Peugeot

MILAN (AP) — Italian-American carmaker Fiat Chrysler Automobiles is confirming that it is in talks with French rival PSA Peugeot on a tie-up to create one of world’s largest automakers. statement on Wednesday didn’t say wher talks were aimed at a full merger or a looser alliance. furr details were given.

Fiat Chrysler has long been looking for a partner to help shoulder investments in capital-heavy industry. Talks this year with ar French carmaker, Renault, failed over French government concerns over role of Japanese partner Nissan. Fiat Chrysler Automobiles was formed in 2014 out of a merger of Italian carmaker Fiat and American company Chrysler, which Fiat brought back from brink of bankruptcy.