The Financial Times reported Nissan insiders revealed the Japanese carmaker is scrambling to find a new investor.

“We have 12 or 14 months to survive,” a senior official close to Nissan said.

However, Nissan is in the process of finalising a new electric vehicle partnership with Honda, a traditional rival company.

It was reported Nissan could look to have Honda also buy some of the shares being sold off by Renault, who originally saved Nissan from bankruptcy in 1999 by entering into a partnership.

Nissan and Honda are looking to team up to combat the domination of the electric vehicle market by China.

“This is going to be tough,” a senior official close to Nissan told The Financial Times.

“And in the end, we need Japan and the US to be generating cash.”