Nissan Motor’s shares surged Friday morning after a report emerged that a high-level Japanese group—which includes the country’s former prime minister—has readied a plan to seek Telsa’s investment in the company, just days after the ailing automaker’s merger talks with rival Honda collapsed.
Reports of Nissan courting Tesla's investment comes just days after the struggling carmaker's merger ... [+]
According to the Financial Times, which first reported the matter, former Tesla board member Hiro Mizuno is leading the plan, with backing from former Japanese Prime Minister Yoshihide Suga.
The report added that several of Nissan’s board members are aware of the plan, however, the company has not officially commented on the matter yet.
The group marshaling the plan is reportedly hoping to bring Tesla on board as a strategic investor in Nissan, as they believe the Elon Musk-led company wants to acquire the struggling Japanese carmaker’s manufacturing plants in the U.S.
Nissan’s investors have reacted positively to the report, with the company’s shares surging nearly 9.5% to $3.05 (JPY 459) in late afternoon trading in Tokyo on Friday.
This is a developing story.