(Bloomberg) -- Any merger between Fiat Chrysler Automobiles NV and Renault SA must include guarantees on jobs and factories as well as governance and battery supplies, French Finance Minister Bruno Le Maire said.

The government wants safeguards to maintain industrial jobs in France and “zero” site closings, he said in on RTL radio on Tuesday.

The companies also need to work out a deal that takes into account Renault’s existing partnership with Japanese carmakers Nissan Motor Co. and Mitsubishi Motors Corp., and participate in a European project to develop batteries for electric vehicles, the minister said.

French interests must be respected in terms of governance for what Le Maire called a “merger of equals.” Le Maire confirmed both the French government and Nissan’s stakes will be halved to 7.5% each.

The proposal is a “very great opportunity for Renault, it’s a great opportunity for the European car industry,” he said. The combination would allow the companies to pool investments in electric and self-driving vehicles to survive the technological shift.

Fiat and Renault on Monday unveiled a merger plan to create the world’s third-biggest carmaker. The transaction would be structured as a 50-50 ownership through a Dutch holding company, Fiat said. Renault’s board said it would study what it called a “friendly” proposal.

Le Maire said he informed his Japanese counterparts about the plan on Friday when he was told of a firm proposal.

Falling sales in the world’s biggest markets -- China, the U.S. and Europe -- have brought fresh urgency for auto industry consolidation. Fiat expects joint annual synergies to amount to more than 5 billion euros ($5.6 billion), coming from areas such as purchasing power and product development, without closing any plants.

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