Carlos Ghosn has said that he wants Mitsubishi Motors Corporation (MMC) to reform and dampened speculation over a an eventual full merger between MMC and Alliance partner Nissan, which has a controlling 34% stake in the poor performing company.

"Full merger is not on the table. We want Mitsubishi to reform itself," Ghosn told Reuters. He was attending the opening ceremony of a new Mitsubishi factory in Indonesia.

Carlos Ghosn has long been a proponent of a loose Alliance structure between OEMs, rather than full-scale mergers. Renault-Nissan's Alliance is able to exploit cost savings and scale economies while retaining a degree of independence for the constituent companies.

Renault-Nissan posted increased 2016 sales to 9.96m vehicles with the Alliance now representing one in nine global cars sold and 425,000 EVs.

The Alliance figures include Mitsubishi sales of 934,013 vehicles globally.

"The combination of Groupe Renault, Nissan Motors and Mitsubishi Motors creates a new force in the global auto industry," said chairman and CEO, Carlos Ghosn.

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"The strength of this partnership that began 18 years ago has allowed us to improve our competitiveness, boost our growth and engage in the race for the vehicle of the future."

See also: Mitsubishi inaugurates new plant in Indonesia