Panasonic has sold its total value to Tesla for $ 3.6 billion to raise funds for the acquisition, according to Nikkei and Economic Times. Immediately, Panasonic CEO Yuki Kusumi told Bloomberg that the company is planning to make “more money” by producing Tesla’s 4680 lithium-ion battery cells if the production line could work.
Panasonic insisted that the sale of shares was close to “corporate control” and had nothing to do with Tesla’s relationship. “The aim is to review the potential areas of the industry,” he said. Economic Times in words. “It has nothing to do with the deal with Tesla and we continue to have a good relationship.”
In any case, the money was a business option. Panasonic bought 1.4 million shares of Tesla at $ 21.15 in 2010 for about $ 30 million, according to Engadget reports at the time. In March 2020, it was valued at 80.9 yen ($ 731 million), and eventually raised $ 400 billion ($ 3.6 billion) by the end of March 2021 (Tesla’s stock had risen six times during that period). Improving sales enables Panasonic to pay $ 7 billion for US AI Blue Yonder.
Panasonic was Tesla’s only battery source, but Tesla was launched recently making its batteries working with other vendors including LG Chem and Chinese CATL. Immediately, Panasonic said soon reducing its dependence on Tesla and supply batteries to all other manufacturers in the world.
Panasonic plans to remain a major player in the future for Tesla. The company is developing Tesla’s 4680 lithium-ion processor which has been disclosed on “Battery Day“The event. CEO Elon Musk hopes these will allow affordable packages that make $ 25,000 worth of electricity possible within three years. If its technology works well, Panasonic will make” more money “for those of Tesla and other manufacturers.
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