Tesla Gets $30 Million, Forms Electric Car Trinity
Tesla, Toyota, and Panasonic just keep getting closer.
Tesla hasn't been able to sell many of its $100,000 all-electric Roadsters, but it still got a new investment recently.
Panasonic announced yesterday that it will broaden its ties with Tesla, buying a 2 percent share in the company at a cost of $30 million. Though the deal isn't earth-shattering in size, it has drawn new attention to an emerging green car alliance between two of the world's largest corporations and a young EV startup that has sold just 1,300 vehicles in its seven-year history.
The helpful chart below (source here) shows the ties between Tesla, Toyota, and Panasonic.
Lots of commentators have predicted Tesla's demise based on the small market for its super-expensive sports car, but that ignores the fact that it can also make a business out of simply licensing its technology to these established companies. And it certainly seems to be moving in that direction.