Michelin is in talks with the FIA about a possible return to Formula One.
With Bridgestone pulling out as the sport's official sole supplier at the end of 2010, the French tyre marque's Jean-Dominique Senard told Bloomberg that "formal discussions" with the governing body are underway.
Michelin pulled out of F1 at the end of 2006, disgruntled by the FIA's move to impose a single-tyre formula by tender.
"We might consider returning but there are some very clear conditions," Senard said in an interview in Paris.
He said the tyre rules need changing to "show the performance they can bring, notably in terms of fuel saving and CO2 reductions".
An FIA spokesman would not comment.