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Panasonic finds itself in need of some Tesla-style boldness as it enters its next era
Tesla’s oldest battery partner, Panasonic, is finding itself at a crossroads once more. With Chief Executive Kazuhiro Tsuga poised to step down next June, the massive Japanese conglomerate is feeling some pressure to optimize and streamline itself. To accomplish this, Panasonic may need to channel one of its key battery partners, Tesla, and its CEO, Elon Musk, to make the bold decisions needed to thrive in a new era.
When Tsuga took Panasonic’s reins eight years ago, he stated that his first priority would be to return the massive conglomerate into a profitable “normal company.” He did not disappoint. Tsuga stemmed a record loss by pulling the company out of the plasma television market and repositioning the firm as an automotive-and-housing conglomerate. The veteran Japanese executive also did something unexpected: he initiated a $5 billion battery manufacturing tie-up with Tesla in 2014.
Tsuga’s strategy of partnering with Tesla, then an unproven electric car maker, and a CEO known for a Tony Stark-like persona, was considered a courageous move on the Japanese conglomerate’s part. The partnership of the experienced Japanese veteran and assertive US startup bore fruit, with Gigafactory Nevada becoming the world’s largest battery facility. Its operations with Tesla are even closing in on its first annual profit. But the journey to this point was not easy.
As noted in a Financial Times report, Panasonic and Tesla clashed over the years, and these tensions reportedly manifested themselves when the Japanese firm decided to not invest in Gigafactory Shanghai. This resulted in Tesla partnering with other suppliers like LG Chem and Contemporary Amperex Technology Co., Limited (CATL). Tesla has also announced plans to start producing its own 4680 tabless cells for its vehicles and energy storage products.
As the outgoing Panasonic CEO prepares to step down in June, his promise of running a “normal company” is leaving a bitter aftertaste to the company he will leave behind. Over the years, rivals such as Sony and Hitachi have gone on massive divestment initiatives to streamline their businesses. And while Panasonic has followed a similar path, executives continue to struggle to define what kind of company it is. Newly-appointed chief executive Yuki Kusumi, who is poised to succeed Tsuga, referenced this when he stated that Panasonic could achieve growth if it could optimize businesses that excelled in its portfolio, which currently stretches across a whopping 520 subsidiaries.
The outgoing Panasonic CEO, as a final departing measure, is hoping to change the company into a holding company structure, which is similar to a move that rival Sony will make around April. According to Panasonic, the shift, which is expected to be completed in 2022, could help accelerate decision-making across the conglomerate by running its units independently. Yet even this strategy poses challenges for Panasonic since unlike Sony, which has found its “core” in the games, films, animation, and the music segment, Panasonic’s “core” still seems unclear. This difference is evident when one looks at the two Japanese firms’ performance in the market. Sony has increased 78% since February while Panasonic has dropped 30%.
But things may be looking up for Panasonic. When he announced Panasonic’s shift to a holding company, Tsuga resurrected car batteries as a “core” by branding it as an “energy business.” Thanks in part to this, as well as the ongoing expansion of profitable projects like Gigafactory Nevada, Panasonic’s next CEO, Yuki Kusumi, would be taking control of a company that is in a much better financial position as the one handed over to his predecessor. As highlighted by the Financial Times, if Kusumi would like to usher in a revival or a breakthrough of sorts for Panasonic in the coming years, he would have to channel less of his predecessor’s “normal company” strategy and more of the boldness characteristic of partners like Tesla.
Markets like the battery industry are only just heating up, after all. While Tesla has stated that it intends to keep and grow its partnership with suppliers like Panasonic despite its own battery production plans, competitors like LG Chem and CATL are not sitting out the next few years. LG has even posted a bold challenge of sorts to the Japanese conglomerate recently, with the South Korean firm stating that it has every intention to become Tesla’s main battery supplier in the near future, effectively taking Panasonic’s place. With some Elon Musk-style boldness, however, perhaps Panasonic could still keep its lead in the battery sector, and perhaps even increase its reach in the growing EV segment.
Lifestyle
Tesla saves its passengers again – This time after a 300-foot cliff fall in Malibu
A Tesla Model 3 fell 300 feet off a Malibu cliff and both passengers survived.
A Tesla Model 3 plunged roughly 300 feet off a cliff on Mulholland Highway in Malibu on Friday morning, May 29, 2026, and both occupants survived. The crash was reported at approximately 7:30 a.m. near the 2500 block of Mulholland Highway, triggering a multi-agency rescue operation involving Malibu Search and Rescue, the Los Angeles County Fire Department, the California Highway Patrol, and McCormick Ambulance.
When first responders arrived, the male driver was outside the vehicle shouting for help while the female passenger remained pinned inside the Tesla. Rescue crews rappelled down the cliffside on ropes to reach the wreckage. A flight medic was lowered by helicopter to begin treating both victims, and the driver was hoisted up to the roadway before crews used the Jaws of Life to free the trapped passenger. Both were airlifted to a local trauma center with moderate injuries despite a remarkable result for a fall that steep.
The outcome is not surprising, considering Model 3 earned an overall 5-star rating from NHTSA in every category and sub-category, and recorded the lowest probability of injury of any car ever evaluated by the U.S. New Car Assessment Program. The absence of a traditional engine in the front of the vehicle creates a longer crumple zone that absorbs impact energy before it reaches occupants, and the battery pack running along the floor gives the car an unusually low center of gravity that reinforces structural rigidity.
This is not the first time a Tesla has kept passengers alive after going off a cliff. A Tesla Model Y carrying a family of four survived a plunge off a cliff at Devil’s Slide near San Francisco in January 2023, with two adults and two children walking away from a 250-foot fall. That incident drew widespread attention to how the structural integrity of Tesla’s electric platform performs in extreme crash scenarios that most vehicles would not survive.
Tesla Model Y driver who drove off cliff with family attempts to avoid criminal conviction
Tesla Full Self-Driving (Supervised) has taken yet another significant step forward in Europe. On May 29, Estonia became the third European Union country to approve the advanced driver-assistance technology, following approvals in the Netherlands and Lithuania.
Tesla Europe announced the news on X, confirming the expansion has continued across the continent that, at one time, seemed to be taking its sweet old time giving any approval to the FSD suite.
FSD Supervised now approved in Estonia🇪🇪. Rollout will begin soon pic.twitter.com/y5a64qlp5m
— Tesla Europe, Middle East & Africa (@teslaeurope) May 29, 2026
Estonia’s Transport Administration (Transpordiamet) granted the approval by recognizing the type certification issued by the Dutch vehicle authority RDW. This mutual recognition mechanism, enabled by EU regulations, allows other member states to fast-track deployment without repeating extensive local testing.
The Estonian authority noted that Tesla’s FSD had undergone rigorous evaluation on European roads for approximately 18 months before the initial Dutch approval in April 2026.
FSD Supervised remains classified as a Level 2 advanced driver-assistance system (ADAS). Drivers must maintain full attention, keep their hands on the wheel, and stay ready to intervene at any moment.
The system assists with tasks such as automatic lane changes, navigation through city streets, and responding to traffic objects, but it does not constitute full autonomy. Estonian officials emphasized this distinction, underscoring that safety responsibility lies entirely with the driver.
The rapid progression across the Baltic region highlights Tesla’s strategic approach to European expansion. The Netherlands provided the foundational type approval in April, unlocking doors for neighboring countries.
Lithuania followed swiftly in mid-May, with rollout beginning shortly thereafter. Estonia’s decision, coming just days later, demonstrates how smaller, digitally progressive nations are accelerating adoption.
Tesla owners in Estonia can expect an over-the-air software update in the coming weeks, bringing the latest FSD capabilities to compatible vehicles
This expansion builds on Tesla’s global momentum. FSD Supervised is now available in 11 countries worldwide, including the United States, Canada, Australia, and South Korea. In Europe, the approvals signal growing regulatory confidence in Tesla’s vision-based AI approach, which relies on cameras and neural networks rather than lidar or radar-heavy alternatives used by some competitors.
For Tesla, these European milestones are more than symbolic. They validate years of data collection and software iteration while opening new revenue streams through FSD subscriptions and purchases.
As the company continues refining its AI models with real-world miles from diverse driving environments, including Estonia’s variable winter conditions, the dataset grows richer, potentially benefiting global users.
Elon Musk has firmly denied recent media reports suggesting that SpaceX has reduced its target valuation for an upcoming initial public offering.
The denial came directly from the SpaceX and Tesla frontman on his social media platform X, where he responded with a single word, “False,” to a post from ZeroHedge that cited Bloomberg sources.
This swift rebuttal underscores Musk’s ongoing effort to manage speculation surrounding one of the most anticipated market debuts in recent history.
False
— Elon Musk (@elonmusk) May 29, 2026
According to the disputed reports, SpaceX had lowered its IPO valuation goal to at least $1.8 trillion from previous ambitions exceeding $2 trillion.
The claims emerged amid growing anticipation for the company’s confidential S-1 filing, which positions it for a potential public listing as early as June.
Some had pointed to strong revenue growth, particularly from the Starlink satellite internet service, which contributed heavily to the firm’s 2025 figures of $18.7 billion. Yet challenges persist in other areas, including substantial investments and losses tied to ambitious projects like Starship development and artificial intelligence initiatives, which plan to make life multiplanetary eventually.
Musk’s response highlights a pattern in which he actively counters what he views as inaccurate portrayals of his companies’ trajectories.
SpaceX, already valued privately at extraordinary levels, stands as a cornerstone of Musk’s empire alongside Tesla and xAI. The entrepreneur has long emphasized the transformative potential of reusable rockets and global broadband access, factors that fuel investor enthusiasm despite operational hurdles.
By rejecting the valuation downgrade narrative, Musk signals confidence in SpaceX’s fundamentals and its readiness for public markets on terms favorable to its long-term vision. People have been waiting a very long time to invest in SpaceX, and the valuation, as well as the introductory share price, is not going to need adjusting.
They’ll have plenty of suitors.
This episode reflects broader dynamics in the technology sector, where rumors often swirl around high-profile entities. Musk’s direct engagement with media narratives serves to maintain transparency and control the narrative around his ventures.
As SpaceX prepares for greater scrutiny in public markets, the founder’s denial reinforces optimism about its prospects. Supporters argue that the company’s innovative edge positions it for enduring success, far beyond short-term valuation debates. With the denial now public, attention turns to forthcoming regulatory filings that could provide clearer insights into SpaceX’s strategy and financial health.
The coming weeks promise to reveal more about how SpaceX will transition into a publicly traded powerhouse.
Tesla saves its passengers again – This time after a 300-foot cliff fall in Malibu
Tesla Full Self-Driving expansion in Europe continues with new addition
