New Delhi, Feb. 21 -- A high-level Japanese group including former prime minister Yoshihide Suga has drawn up plans for Elon Musk's Tesla to invest in Nissan, the Financial Times reports. The new proposal is being led by former Tesla board member Hiro Izumi and backed by the former prime minister and his former aide Hiroto Izumi.

The group reportedly believes that Tesla would like to be a strategic investor in Nissan, with the EV maker interested in acquiring the company's plans in the US. The Tesla plans come shortly after the $58 billion merger proposal between Nissan and Honda collapsed over fears that the Japanese carmaker could fall into potentially foreign hands.

Reportedly, the proposal could see a consortium of investors with Te...