Feb 21, 2025, 03:27am EST
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 Tesla’s investment in the company, just days after the ailing automaker’s merger talks with rival Honda collapsed.
KEY FACTS
- 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.
- Markets 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.
Source: Siladitya Ray
Forbes Staff