The two sides have already talked about sharing car platforms, FT said, although it was heard that the discussions are long enough after they have gone "beyond simply sharing the technology."
Fiat Chrysler and Renault have refused to comment.
A deal can have significant consequences for both the technology of Fiat Chrysler's cars and Renault's overall reach. Fiat Chrysler can borrow EV and hybrid platforms from its new partner, which helps to continue with an industry where electrified cars can quickly become the norm. It may also have access to more autonomous resource resources, not to mention mobility services that can help manage a reduction in car ownership.
Renault, meanwhile, could benefit from integrating its technology into a previous competitor's cars and expanding its reach. While the company stopped offering cars in the United States long ago, a Fiat Chrysler link would give it a foothold in the country it doesn't have through Mitsubishi or Nissan. You wouldn't necessarily see the Chrysler-badged Renault Zoes, but you might see Chryslers with a certain French touch – even if it's just under the hood.