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

A high-level Japanese group has drawn up plans for Elon Musk’s Tesla (TSLA) to invest in Nissan (NSANY), following the collapse of merger

Elon Musk announced that Tesla Motors would not purchase Nissan. Recently, rumors circulated that the world's richest man might invest in the financially troubled Japanese giant. Following Musk's declaration,

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

That deal—one branded "a desperate move" by former Nissan CEO and fugitive from Japanese justice Carlos Ghosn—fell apart last week after Renault demanded a price premium for its shares in Nissan, and Nissan demanded a merger of equals with Honda.

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.