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

Shares of Nissan Motor Co. plunged as much as 10%, the most in three weeks, after Tesla Inc. Chief Executive Officer Elon Musk indicated he has no plans to invest in the ailing carmaker.

Reports of an overture towards the American electric vehicle maker come days after Nissan’s merger talks with Honda collapsed.

A CAR manufacturing giant “on the brink of collapse” has made a huge production change in order to stay afloat. It comes after the faltering yet iconic brand saw its shares plummet when Elon Musk

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.

AN ICONIC car brand on the “brink of collapse” has suffered another blow after its shares plummeted. The Japanese carmaker pleaded for Elon Musk to come to the rescue after a failed

Nissan in recent weeks has been searching for a strategic partner in the tech industry, with some board members suggesting Tesla and Apple as ideal targets.

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.