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Nissan Motor Company is to pull out from a venture capital fund it runs with alliance partners Renault SA and Mitsubishi Motors, as part of the Japanese automaker’s drive to cut costs and conserve cash.
Under the arrangement, Nissan will formally take a decision on whether to leave the fund, Alliance Ventures, by the end of this month.
Reuters Report that the likely move comes after Nissan’s junior partner, Mitsubishi Motors Corporation told an alliance meeting last week that it would no longer continue to inject money into the fund.
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