Panasonic Corp sold its stake in Tesla Inc for about $3.61 billion in the year ended March, to reduce its dependence on the electric carmaker and raise cash for investing in growth.
The Japanese conglomerate acquired 1.4 million Tesla shares at $21.15 each in 2010 for about $30 million. The stake was worth $730 million at the end of March 2020 and has gained almost sevenfold since then.
It was worth $679.82 per share on Thursday.
While the stake sale will not affect the partnership between the two firms, Tesla is diversifying its battery supply chain.
Panasonic, whose battery business is dominated by Tesla, intends to buy more shares in US supply-chain software company Blue Yonder, in a $7.1 billion deal.


South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil
Ford and Geely Explore Strategic Manufacturing Partnership in Europe
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 



