Friday, 24 March, 2023

Panasonic sells Tesla stake for $3.6bn

<p>Panasonic has sold its stake in Tesla for 400 bn yen. The company said it wants to be less reliant on Tesla and invest the funds for growth. Panasonic had invested $30 mn in 2010 for 1.4 mn Tesla shares which were worth $730 mn at the end of March 2020. On Friday, Panasonic saw a rise of 4.2% in its share price. Panasonic is looking to buy shares of U.S. supply-chain software company Blue Yonder in a $7.1bn deal.</p>