Japan to court Tesla on Nissan investment, FT says

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.

The group hopes Elon Musk's Tesla will become a strategic investor, believing the company is keen to acquire Nissan's plants in the United States, according to the report.

The proposal is being led by former Tesla board member Hiromichi Mizuno with support from ex-premier Yoshihide Suga and his former aide Hiroto Izumi, the newspaper said, citing unidentified sources.

Suga's office said it was not aware of a plan to encourage Tesla to invest in Nissan. Suga stood down as prime minister in 2021 but remains a member of Japan's lower house, representing a constituency in Nissan's home prefecture of Kanagawa.

Nissan declined to comment on the report, while Tesla did not respond to requests for comment. Reuters was not immediately able to contact Izumi and Mizuno.

Nissan shares closed up 9.6 percent after the FT report. The automaker and Honda ended talks to forge a US$60-billion (HK$468 billion) car company last week. Nissan said it will seek new partnerships.

According to the FT, some Nissan board members have suggested Tesla and Apple as ideal strategic investors.

Sources have told Reuters that Nissan was open to working with new partners, with Taiwan's Foxconn seen as one candidate. Nissan chief executive Makoto Uchida said last week that Nissan and Foxconn had not held talks at management level.

REUTERS