The arrest Monday of Nissan Chairman Carlos Ghosn, who is widely credited with turning around the struggling Yokohama-based automaker and forming one of the world's most powerful auto groups, has sent shock waves through the industry and left observers wondering what will become of the firm's cross-border alliance.

The fate of the alliance between Renault SA, Nissan Motor Co. and Mitsubishi Motors Corp., which sold over 10 million vehicles worldwide in 2017, may appear unstable without the longtime charismatic leader at the helm, but analysts interviewed by The Japan Times said the three companies will likely try to maintain their current relationships since they can't afford to scrap established joint cost reductions and development initiatives amid rising competition.

Also, while Ghosn may have been the face of Nissan, his departure's impact on business overall could be limited, as in recent years he did not appear to have been heavily involved in daily operations.