A Renault, Nissan, Mitsubishi merger might be on the way

French car maker Renault and Japanese manufacturers Nissan and Mitsubishi may discuss a merger later in the future.

This was confirmed by Jean-Dominique Senard, Renault’s CEO on Saturday.

“These discussions over a capitalistic merger have been carried out for a while and they were brought out in a dramatic way recently,” Senard said in an interview with a French radio station. “I think that later on, as events unfold, Renault, Nissan and Mistubishi will think about that with serenity.”

For now, Senard said the companies are working on ways to optimize the Renault-Nissan-Mitsubishi alliance, which he heads.

He further added that talks about a possible merger over the past days “have scared out everybody.”

The removal of Renault CEO Carlos Ghosn – who is credited with rescuing Nissan from near-bankruptcy in 1999 – from the head of the alliance has raised a cloud of uncertainty about its future.

As Nissan ponders its future without Ghosn, who is charged with financial misconduct, its partner Renault has been quietly maneuvering for merger talks, sources at both automakers have recently told Reuters.

Ghosn has denied all charges against him.