Mitsubishi says the fuel economy scandal that unfolded last week could have far reaching implications – its president says that the issue could threaten the very survival of the automaker, Bloomberg reports.

“I’m taking this as a case that could affect our company’s existence. My mission is to solve the issue,” Mitsubishi Motors president Tetsuro Aikawa told reporters on Tuesday.

Last week, the drama began when the company revealed that it had been using methods not compliant with Japanese standards to test for fuel economy since 2002. The cars that brought the issues to the forefront were the Mitsubishi eK Wagon and eK Space as well as the Nissan Dayz and Dayz Roox, which the automaker has been manufacturing and supplying to Nissan since June 2013.

Its shares have plunged, and the fuel economy of more models are expected to be investigated. Last week, one of its offices was raided by government officials. In the United States, the automaker has been instructed by the EPA to supply the regulatory body with additional information of its US models, and has also been ordered to conduct additional testing.

Its alliance with Nissan, which was the party that uncovered the fuel economy discrepancies when working on development for the next generation of the minicars, is also on thin ice. Nissan CEO Carlos Ghosn said earlier in the week that Nissan will decide on the future of the partnership after further verification.

Mitsubishi disclosed that it remains uncertain as to how many vehicles have been subjected to the improper test methods. It has stated that it will be looking into other models apart from the four kei cars and provide a separate report once findings have been obtained.

The country’s transport minister, Keiichi Ishii, has stated that the manipulation of fuel-efficiency tests by Mitsubishi is an “extremely serious” case. Japan says it will be setting up a task force to come up with concrete measures so as to prevent irregularities in vehicle testing. The Mitsubishi board, meanwhile, has formed a panel of three ex-prosecutors to investigate the case for about three months.

It’s not the first time MMC has had to deal with a scandal. About a decade ago, the automaker almost came to the brink of collapse following a defects scandal, in which it emerged it had been systematically covering up problems and issues over decades. The latest implosion will likely hit the company hard, as fuel economy has been a selling point for the automaker.