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Panasonic has reportedly marketed its stake in Tesla for about 400 billion yen (roughly USD3.6bn $three.sixty one billion) in the calendar year ended March, in accordance to media studies.
Panasonic’s battery small business is dominated by Tesla, but Reuters famous in its report that the two firms have had a tense relationship at instances.
Panasonic has apparently got a very superior return on its Tesla shares procured in 2010 for about USD30m.
Reuters famous that analysts say while Panasonic gave fiscal backing to Tesla when it was lesser, the automaker’s growth signifies there is no require for capital ties any lengthier.
The report also explained the stake sale will not have an effect on the partnership with Tesla, citing a Panasonic spokesperson.