Jean-Dominique Senard

Renault chairman Jean-Dominique Senard

PARIS (AP) — French automaker Renault says its board will meet on Tuesday to vote on a possible merger with Fiat Chrysler.

Fiat Chrysler has proposed to merge with Renault to create the world’s third-biggest automaker, worth almost $40 billion, and combine forces in the race to make electric and autonomous vehicles. The merged company would produce 8.7 million vehicles a year, more than General Motors and trailing only Volkswagen and Toyota.

Negotiations would involve consultations with unions, the French government and antitrust authorities, and take about a year.

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