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Panasonic 6752.T announced on the 25th that it had sold all of its shares in Tesla TSLA.O, a major US electric vehicle (EV) company , by the end of March 2021. The sale price is about 400 billion yen.

The company said that it has been reviewing its strategically held shares, and commented that it will not affect the partnership with Tesla and will continue to have a good relationship. The proceeds from the sale are being considered for investment in growth.

According to the securities report submitted by the company to the Kanto Finance Bureau on the 25th, the holding amount, which was 80,897 million yen as of the end of March 2020, became zero at the end of March 2009. Tesla shares were skyrocketing in 20 years.

Tesla is a major supplier of Panasonic EV batteries. Panasonic invested $ 30 million in 2010. According to the statement at the time, Tesla shares were acquired for $ 21.15 per share. Tesla shares, which are listed on the US Nasdaq market, closed at 679.82, up 3.5% on the 24th.

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