After US authorities investigated the deadly crash last week at Tesla's Model X in California, Panasonic's share price fell sharply today.
Joint venture between Japanese manufacturers and California electric vehicle manufacturers to produce lithium-
Ion batteries soughtafter cars.
Immediately after the accident, the car's battery caught fire, and emergency officials consulted the company's engineers before they could put out the fire.
Tesla's share price plunged as the News of the investigation came.
Panasonic's automotive battery business has grown significantly over the past few years as it works with Tesla, the largest lithium battery
Ion batteries consumed in the world.
Panasonic has five battery factories in Japan, one in China and the other in Nevada for Tesla.
Analysts worry that Panasonic's fate is now highly dependent on Tesla's strategy.
Toyota and Honda are also customers of Panasonic battery.