Nissan’s debt rating has been reduced to junk status as the automaker faces an assortment of challenges. A Japanese group is reportedly trying to get Tesla to invest, but Elon Musk seemingly downplayed the idea.

The Honda-Nissan on-again, off-again, on-again merger is the international automotive saga that keeps on giving. Now there's another twist.

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.

Uchida had been one of the strongest advocates within Nissan for a deal with Honda. However, relations between Uchida and his counterpart Toshihiro Mibe deteriorated as Honda became frustrated with the speed of Nissan’s restructuring and the depth of its financial troubles.

Nissan shares surged 11 percent Friday after a report said a Japanese group including a former prime minister plans to ask US electric vehicle giant Tesla to invest in the automaker. "The proposal envisions a consortium of investors,

A high-level Japanese group that includes a former prime minister has drawn up plans for Tesla to invest in Nissan after the collapse of its merger talks with Honda , the Financial Times said on Friday.

A group representing Nissan is seeking investment in the company from big players like Tesla and Apple, now that the Honda merger is dead.