Nissan Motor Company is reportedly exiting a venture capital fund it operates with several auto alliance partners. Reports indicate that the Japanese automaker is looking to cut costs and preserve cash. The fund’s other partners are Mitsubishi Motors and Renault.

Reuters said Wednesday that the firm hasn’t made up its mind. However, reports suggest that it will depart the fund by the end of the month. Citing two insiders, the report says that the company will exit after Mitsubishi said it would no longer inject capital into Alliance Ventures.

One source left with the pretty classic quote: “Of course we’re out. The house is on fire.”

Nissan Motor Company and Alliance Ventures

Carlos Ghosn created Alliance Ventures and recruited the Renault-Nissan-Mitsubishi Alliance to fund startups that would provide technologies for manufacturers. The fund saw an initial investment of $200 million from manufacturers. Those groups were supposed to match each other year-by-year until they saw a fund worth $1 billion by 2023.

That said, the matching amounts never quite reached those levels.

According to Caradvice.com, Nissan is under pressure to turn around its business in the wake of falling sales and company scandals. The firm saw its sales drop by 80% last month in China, its largest market.

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