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.


Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised
Instagram Outage Disrupts Thousands of U.S. Users
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million
Thailand Inflation Remains Negative for 10th Straight Month in January
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 



