Tesla (TSLA) has spent years cultivating a partnership with Panasonic (PCRFF) (PCRFY). The Japanese technology conglomerate builds the batteries for Tesla’s electric vehicles and it is the prime mover at the New York Gigafactory, where Tesla builds its solar arrays. Yet, for all their past dealings, it appears that Panasonic is now distancing itself from the upstart EV company.
A raft of recent moves show Panasonic working hard to forge new relationships in the automotive industry. The result may be that Panasonic leaves its American partner in the dust.