Two anonymous senior officials have warned that Nissan has between ’12 to 14 months’ to survive (Image: Getty)
Bosses at the Japanese car giant have warned that the brand could have as little as a year to survive.
Since 1999, and Mitsubishi have held a in order to expand sales across Asia and Europe and offer financial support to one another.
Whilst the Renualt-Nissan-Mitsubishi Alliance is one of the leading manufacturing groups, the French car giant reportedly wants to reduce its stake in the .
Now two anonymous senior officials at stated that the brand is facing particularly hard times and that support from the and Japanese Governments could be needed in the next “12 to 14 months” to survive.
They explained: “This is going to be tough, and in the end, we need Japan and the US to be generating cash,” reports the Financial Times.
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Since 1999, Nissan has been in an alliance with Renault in order to share technology and boost sales (Image: Getty)
Earlier in November 2024, Nissan announced a number of measures in a bid to tackle a recent drop in profit, including 9,000 job cuts and plans to reduce global production by 20%.
Since the announcement, Renault is believed to have made a number of additional changes, including reducing the stake the company has in Nissan.
The two companies previously stated that they were adding measures to give each brand in the alliance more autonomy.
As a result, the two officials reported that Nissan are currently looking for another “long-term, steady shareholder” that could replace some of the aid offered by Renault for the past 25 years.
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Nissan recently announced a new partnership with Honda, which could be expanded (Image: Getty)
Whilst Nissan did not wish to respond to the Daily Express about the claims made by the two anonymous senior officials, the company noted that they intend to grow their partnership with Honda.
They added: “The partnership with Honda is strategically very important, and we hope to accelerate the realisation of the results of our activities through regular process of management level of both companies.”
First announced in August 2024, the strategic partnership between Nissan, Mitsubishi, and Honda aims to support the move towards cutting emissions and improving road safety. A growing number of vehicle manufacturers are announcing cuts and financial difficulties, with Ford and Stellantis also announcing job cuts that will affect UK employees during November 2024.
Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders, urged the Government to review measures enforced on car companies, particularly surrounding the transition to electric models.
He continued: “The industry is hurting; profitability and viability are in jeopardy and jobs are on the line. When the world changes, so must we. Workable regulation – backed with incentives – will set us up for success and green growth over the next decade.”