Panasonic no longer owns shares in Tesla after splitting about $ 3.6 billion worth of securities. According to people familiar with the Japanese company, the actions should reduce the brand’s dependence on Tesla and also raise funds for new investments and projects.
Recall that Panasonic bought 1.4 million shares in 2010 for a modest $ 30 million, and the market price of these same securities today is $ 951 million. The Japanese company increased its stake in Tesla several times after that.
–Although Panasonic has split all its shares in Musk’s company, this will not affect the working relationship between the two countries. Panasonic is one of Tesla’s main battery suppliers, although it has contracts with other companies such as LG Chem and CATL.
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