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(Sharecast News) - Tesla chief executive Elon Musk has seemingly rejected the idea that the electric carmaker could put money into struggling Japanese automotive firm Nissan.
Nissan shares surged on Friday after former prime minister Yoshihide Suga called on Tesla to become a strategic investor, possibly in exchange for Nissan's US factories.
The Financial Times noted that in addition to Suga's support for the investment plan, his former aide Hiroto Izumi and former Tesla board member Hiro Mizuno had also backed the deal.
However, Musk said "the Tesla factory IS the product", stating that the company's manufacturing process was a key advantage over rivals, meaning that taking over another company's plants may not exactly be so attractive to the firm.
As of 1120 GMT, Nissan shares were up 9.47% at JPY 459 each.
Reporting by Iain Gilbert at Sharecast.com
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