Japanese media reported that Panasonic has sold all the Tesla shares in its possession. Panasonic is an important battery supplier to Tesla, and Panasonic responded that the business partnership between the two companies will not change.

According to Nikkei Asia, Panasonic has sold all of its shares in Tesla, an important battery customer, in the last fiscal year. Panasonic is likely to use the deal to obtain billions of dollars to fund new strategic investments.

Panasonic will continue to supply electric vehicle batteries to Tesla, a Panasonic executive said. "Our relationship as Tesla's business partner will not change in the future."

According to Panasonic's consolidated statement of cash flows for the last fiscal year, the company reported gains on investment sales and redemptions of 429.9 billion yen (about $3.88 billion), up about 380 billion yen from a year earlier, most of which likely came from proceeds from the sale of Tesla shares.

Panasonic signed its first battery supply agreement with Tesla in 2009, then took a stake in Tesla in 2010. Panasonic's investment gave Tesla significant financial support and marked Panasonic's automotive battery business expansion.