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Panasonic has sold most of its shares in Tesla’s long-term battery partner for about $ b 400bn ($ 3.6bn) while looking to raise the purchase price that has been found abroad.
Japan Agency, which produces $ 5bn battery integrated start with Tesla in Nevada, says the sale will not affect their agreement with the US electric car manufacturer.
But the move comes after Panasonic made it clear he wanted it reducing its maximum reliability on Tesla is supplying batteries to other car manufacturers while companies are moving to electric vehicles to reduce its carbon footprint.
The Japanese company acquired 1.4m Tesla shares at $ 21.15 each in 2010 for about $ 30m. As of March last year, it shared .9 80.9bn shares, but the price was reduced to zero by the end of March last year, according to a report on Friday. In these 12 months, Tesla’s luggage woke up more than six. It closed at $ 679.82 on Thursday.
“The aim is to replicate the mind-set by following the guidelines for corporate governance,” the company said in a statement. “It has nothing to do with the deal with Tesla and we continue to have a good relationship.”
Since the start of the financial year in 2010, Elon Musk has transformed Tesla into a no-brainer, squandering its starting costs the most important car manufacturer in the world a total of $ 655bn – about 23 to 23 times the price of the Panasonic market, although shares closed 4.9% above Friday.
When Panasonic was Tesla’s only battery, the US team started making its batteries and adding buyers to LG Chem South Korea and China’s CATL to help sell its cars.
For Panasonic, its $ 2bn-plus investment in integrated battery products has begun to pay off, according to a Japanese group earned its first annual profit from Tesla’s battery business the fiscal year ended in March.
But the Japanese agency has been raising funds in some areas to strengthen it compared to programs. In April, it announced $ 7.1bn to buy US purchases expert Blue Yonder.
In a March interview, Panasonic chairman Kazuhiro Tsuga told the Financial Times that the coalition agreement with Tesla has begun “another phase”.
“Sometimes, we have to finish our training with one leg dependent on Tesla alone,” Tsuga said. “We have to look after other manufacturers besides Tesla.”
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