Panasonic sells stake in Tesla

Author: EIS Release Date: Jul 5, 2021

Panasonic has sold its stake in Tesla making a profit of nearly $3 billion on the holding.

 

When Panasonic and Tesla entered into a battery supply agreement in 2010, Panasonic bought 1.4 million Tesla shares valued at around $730 million.

 

Tesla shares were worth around $21 at that time and peaked at $900 last Spring.

 

Panasonic has now sold the stake for $3.6 billion.

 

“Our relationship with Tesla as a business partner will not change going forward,” said Panasonic.