Group of senior Japanese officials to propose Tesla invest in Nissan - FT
According to the Financial Times, the former prime minister of Japan and a former member of Tesla's board of directors plan to ask Elon Musk to support the struggling automaker.
Here's What We Know
A group of senior Japanese officials, which includes the former prime minister, has drawn up a plan for Tesla to invest in struggling carmaker Nissan. This comes after the latter's merger talks with Honda failed.
The plan was put forward by former Tesla board member Hiro Mizuno. According to three FT sources, the initiative is supported by former Prime Minister Yoshihide Suga and his former aide Hiroto Izumi. In addition, several members of Nissan's board of directors are aware of the plan.
The group hopes that Tesla will become a strategic investor. They believe the US electric car maker may be interested in acquiring Nissan's US plants to boost domestic production in response to the possible imposition of duties on US car imports.
The plan to approach Tesla comes after Nissan rejected Honda's $58bn merger offer. According to unconfirmed reports, the company is still searching for a partner. Taiwanese electronics maker Foxconn reportedly remains interested in a partnership, but no specifics are available yet.
Source: FT
