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Panasonic plugs $30M into Tesla

San Francisco Business Times: 

 Japanese electronics maker Panasonic invested $30 million into Tesla Motors on Tuesday, Tesla said.

Panasonic supplies battery cells for Tesla's electric car batteries. The investment brings to $130 million the total Palo Alto-based Tesla has raised from strategic partners. The company, has received $50 million each from Toyota Automotive and Daimler.

Tesla opened its new factory at the former NUMMI site in Fremont on Oct. 27, where it plans to build its Model S sedan. Tesla went public June 29 raising $226.1 million on its offering which originally targeted $100 million. Panasonic's investment was a private placement of common stock priced at $21.15 a share.

Panasonic now owns roughly 2 percent of the electric car maker.