Panasonic invested $30 million in Tesla Motors Company


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Panasonic announced on Wednesday that it has invested $30 million in Tesla Motors to explore future marketing and sales opportunies for the vehicle battery packs. The investment provides Panasonic a 2 percent share in Tesla Motors.

Panasonic is the third major investor in Tesla Motors company. The first two were Daimler and Toyota. Daimler was the first to invest in Tesla Motors to help develop a full electric car for its subcompact car segment. And later Toyota was followed with a $60 million contract for Tesla to develop an all electric version of its RAV4 SUV.

Panasonic is currently supplied Tesla with some batteries for its Roadster electric car. Also, it is currently producing nickel-metal hydride and lithium-ion vehicle batteries Toyota as well.