Japanese business leaders are reportedly urging Tesla CEO Elon Musk to step in as a strategic investor in Nissan after the company’s merger talks with rival Honda collapsed last week. Hiro Mizuno, a former Tesla board member,

Shares in the beleaguered Japanese carmaker surged on Friday despite Musk denying reports that Tesla could be a prospective investor.

A high-level Japanese group that includes a former prime minister has drawn up plans for Elon Musk’s Tesla to invest in the struggling carmaker Nissan, following the collapse of its merger talks with rival Honda.

Elon Musk announced that Tesla Motors would not purchase Nissan. Recently, rumors circulated that the world's richest man might invest in the financially troubled Japanese giant. Following Musk's declaration,

AN ICONIC car brand on the “brink of collapse” has faced another blow after shares plummet. The Japanese carmaker pleaded for Elon Musk to come to the rescue after a failed merger, but

That deal—one branded "a desperate move" by former Nissan CEO and fugitive from Japanese justice Carlos Ghosn—fell apart last week after Renault demanded a price premium for its shares in Nissan, and Nissan demanded a merger of equals with Honda.

Following the end of talks between Nissan and Honda, Moody’s has downgraded the struggling automaker’s debt rating to junk status. The financial research firm also revealed a negative outlook for the future.