Tesla’s influence in global economics was made clear after Elon Musk debunked a rumor via Twitter.

Lately, the media began speculating that the American automotive and energy storage company – that designs, manufactures, and sells electric cars, electric vehicle components, and battery products – is collaborating and developing batteries for the upcoming Model 3 electric car together with Samsung SDI.

Although the rumors weren’t completely off the track, Musk set the record straight regarding Tesla’s vehicle line-up via Twitter, explaining that his company is working exclusively with Panasonic:

“Would like to clarify that Tesla is working exclusively with Panasonic for Model 3 cells. News articles claiming otherwise are incorrect.”

Not surprising, as the Japanese electronics maker invested $30 million in Tesla in 2010 and in its gigafactory.

According to The Wall Street Journal, this apparent harmless tweet, posted only to put an end to speculations, caused an 8% plunge in Samsung SDI’s market value, provoking a $580 million loss. Meanwhile, Panasonic added about $800 million.

Musk went on twitting that the Model S as well as the Model X are also powered by Panasonic’s batteries. But as it turns out, Tesla may get batteries for its energy unit from Samsung SDI, as Elon Musk replied “yes” when asked if the Korean company might supply Tesla Energy – as Bloomberg reports. Tesla Energy is the business unit that provides stationary batteries for homes, also known as the Powerwall.

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