Paris — PSA Group and Fiat Chrysler are exploring a partnership to share investments to build cars in Europe, according to people familiar with the talks. The French carmaker and its Italian-American peer have been holding preliminary discussions to collaborate on a “super platform” — the basic underpinning of a car model — to reduce their investment costs in the highly competitive region, said the people who asked not to be named as the matter is private. Preliminary talks could be announced by the end of the first half, one of the people said. PSA CEO Carlos Tavares said earlier in March that his company is ready to seize opportunities for growth, less than a year after integrating the Opel and Vauxhall brands that it purchased from General Motors.

Fiat Chrysler CEO Mike Manley said at the same time that he would “clearly look into” a deal that would make the Italian-American carmaker stronger, including an alliance or a merger. Any eventual partnership will likely include s...

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