Bad news for automotive giant Nissan as sales record serious losses, production slows, lays off thousands of workers and sells a third of its stake in Mitsubishi.
Any improvements may be too late after two of its executives said the company has about 12 to 14 months to survive.
He added that they are now only relying on the Japanese and US markets to generate profits.
The company is reportedly looking for new long-term investors such as banks or large insurance groups to replace some of Renault’s equity holdings.
The company also did not rule out the possibility of old rival Honda taking a majority stake in the company and signing it into partnership for long-term EV development.
Renault is also considering selling some of its shares to Honda.
The French automaker is reportedly looking to restructure its 25-year alliance with Nissan.
The company says that a larger Honda-Nissan partnership would have a positive impact on Renault.
