Panasonic Pays $30 Million for Stake in Electric Vehicle Maker Tesla Motor

According to Bloomberg, “Panasonic Corp., the largest maker of rechargeable batteries, bought a $30 million stake in electric carmaker Tesla Motors Inc., tightening its supply relationship with the Silicon Valley startup. Panasonic paid $21.15 per share yesterday for the holding in Tesla, which also counts Toyota Motor Corp. and Daimler AG among its investors, the [...]

Carmaker Tesla’s stock zooms 40 percent on first day

According to Reuters, “Electric carmaker Tesla Motors Corp’s initial public offering zoomed ahead on Tuesday with shares rallying more than 40 percent as investors bet that electric cars would define the future of transportation. Tesla’s shining debut came despite weakness in the broad market and as other auto stocks were hit by concerns of a [...]