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Panasonic sells its stake in Tesla for nearly $4 billion: report

Dow Jones2021-06-25

Japanese company says battery deal with Tesla will not be affected.

Panasonic Corp. sold its entire stake in Tesla Inc. last fiscal year, the Japanese business daily Nikkei reported Friday .

Panasonic , which builds lithium batteries for Tesla, reportedly sold all of its Tesla shares by the end of March for an estimated $3.88 billion. A Panasonic executive told Nikkei that its business relationship with Tesla will not change.

The Japanese company reportedly bought about 1.4 million shares of Tesla $(TSLA)$ in 2010, at a price of $21.15 apiece. Tesla shares sold for $667 on March 31, after falling as low as $563 a share in mid-March.

Panasonic announced it was buying U.S.-based supply-chain software company Blue Yonder in April .

Panasonic shares traded in Tokyo are up 9.6% year to date, and up 39% over the past year; Tesla shares are down 3.7% this year but up 245% over the past 12 months.

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Comment11

  • AlphBeta
    ·2021-06-27
    ?
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  • glennkuajy
    ·2021-06-25
    nice
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  • Ianer
    ·2021-06-25
    Sell stake so that they can invest in expanding 4680 cell! Think! Why only 1 side of the story?
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  • meowx3
    ·2021-06-25
    FUD , last year news
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  • Jo5tarz
    ·2021-06-25
    ?️?✋
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  • Roticanai
    ·2021-06-25
    Like
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  • Wayne77
    ·2021-06-25
    ????
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  • Silverlitz
    ·2021-06-25
    They are raising funds for the acquisition?
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  • ngkeith18
    ·2021-06-25
    Old news from last year. Pathetic attempt by shorties to bring down the share price. Lol
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  • TSquare
    ·2021-06-25
    [思考] 
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  • newbiepanda
    ·2021-06-25
    Pls like 
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