Panasonic Sells Its Tesla Shares
Panasonic has unloaded all its share in Tesla, worth around AUD$4.75 billion.
It’s not exactly a vote of confidence in Musk’s future-forward company, but Panasonic execs insist that the relationship between the two company will remain strong.
“Our relationship with Tesla as a business partner will not change going forward,” a Panasonic executive said.
Panasonic is one of the key suppliers of batteries for Tesla.
The sell-off was made to “fund new strategic investments”, such as Panasonic’s recent AUD$9.36 billion purchase of software company Blue Yonder.