The sale of shares will not affect the partnership with Tesla, a spokesman for the Japanese company added. But her move comes at a time when the carmaker is trying to expand battery suppliers. Tesla has entered into agreements with South Korea’s LG Energy Solution and China’s CATL, which, according to Reuters, plans to build a plant in Shanghai near Tesla’s production plant.
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In 2010, Panasonic bought 1.4 million Tesla shares for $ 21.15 per share. He paid about $ 30 million for the entire stake. At the end of March 2020, the price of this share was $ 730 million. Since then, the stock price has risen almost sevenfold to close at $ 679.82 on Thursday.
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Panasonic announced earlier this year that it would buy the remaining shares of the American software company Blue Yonder, where it already has a stake. The value of the transaction is $ 7.1 billion.
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In this fiscal year, which began in April, Panasonic expects net profit growth of 27.2 percent to 210 billion yen. The growth in the automotive segment, which also includes batteries for Tesla electric cars, should help him in this, the Kyodó agency said.
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