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Tesla investor KLP considers shareholder proposal on collective bargaining at annual shareholder meeting

Credit: @NicklasNilsso14/X

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Tesla investor KLP, Norway’s largest pension company, is considering the idea of filing a shareholder proposal to address Elon Musk’s reluctance to engage in collective bargaining at the electric vehicle maker’s 2024 annual shareholder meeting. Tesla has been dealing with protests and blockades from Swedish trade union IF Metall and its allies since October last year. 

Tesla CEO Elon Musk recently noted in an X Spaces session that he believes that the worst is over in Sweden. To date, Tesla Sweden has mostly been able to work around the anti-Tesla efforts of IF Metall and its allies, but the unions’ recent efforts to block the activation of Supercharger stations have started to prove problematic. Nevertheless, Musk noted that he remains optimistic about Sweden. 

“I think the storm has passed on that front. I think things are in reasonably good shape in Sweden. I feel good about the future. The long term future of Tesla is strong,” Musk said

As per Kiran Aziz, KLP’s head of responsible investments, Musk is underestimating the gravity of the situation in Sweden. For context, KLP did join a number of other Nordic investors in a December letter asking Tesla to resolve the conflict with IF Metall. In their letter, the investors noted that they would consider selling their TSLA shares if the company does not sign a collective agreement. 

“That Elon Musk is saying that the ‘storm has passed’ is just his way to underestimate the conflict and the issue. The conflict is still going, and Musk does not really want to understand that collective bargaining is the backbone of the Nordic labor model,” Aziz noted.

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Aziz noted that Tesla did not answer the December letter, so the KLP is currently “trying to figure out how to escalate,” as noted in a Reuters report. “The next step with Tesla could be filing a shareholder proposal at its annual general meeting. We will continue to pursue this issue regardless of what Musk thinks so one advice would be that Tesla starts to respond on queries from investors,” she said. 

Tesla has maintained that its employees in Sweden do not need a collective agreement because they already receive benefits that are equal to or better than what they would have with a union in place. The EV maker has also argued that over 90% of its workers in Sweden have opted out of IF Metall’s strike. Tesla as a company also seems to be doing well in Sweden, with the Model Y becoming the country’s most registered vehicle in March 2024. 

KLP currently holds 900,000 TSLA shares. Tesla, for its part, has not issued a response about the KLP’s intentions as of writing. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla Superchargers open to Lucid Air, but not without one key thing

Lucid’s full lineup of EVs is now able to use Tesla Superchargers in the United States and Canada.

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Tesla Superchargers will be open to Lucid Air vehicles starting on July 31, a move that comes nearly two years after the companies agreed to terms that would allow them to partner.

Lucid joins a long list of EV makers that have a full lineup of EVs that can utilize Tesla’s extensive Supercharger Network across the United States and parts of Canada. In all, over 32,500 Tesla Superchargers will be accessible to Lucid owners at the end of the month.

Lucid NACS adoption ‘must have been a bitter pill to swallow’: Elon Musk

All Air models, regardless of year or trim level, will gain access to the entire North American Tesla Supercharger Network. It will just need one key thing to charge: an NACS adapter.

Lucid Air sedans will require a DC NACS to CCS1 adapter in order to enable charging at the Tesla stalls. These will be priced at $220 plus tax.

Emad Dlala, Senior VP of Powertrain at Lucid, said:

“In addition to offering the longest-range electric vehicle available, Lucid is committed to offering our customers seamless and wide access to public charging. Access to the Tesla Supercharging Network for the Lucid Air is yet another major milestone.”

Charging speeds will allow Air EVs to charge at up to 50 kW, gaining up to 200 miles of range per hour.

As for the Lucid Gravity, the company’s SUV, it will not require the adapter because of its native NACS port. It gained access to the Supercharger Network in January.

Although Lucid Airs will not be able to charge at the rate of some other vehicles, they do boast some of the best range ratings in the EV industry. Having the luxury of additional charging piles to access will increase the value of the long-range ratings Lucid offers with its vehicles.

Lucid joins several other automakers that have a full lineup of EVs that have access to the Tesla Supercharger Network:

  • Ford
  • Rivian
  • General Motors (Chevrolet, GMC, Cadillac)
  • Volvo
  • Polestar
  • Nissan
  • Mercedes-Benz
  • Hyundai
  • Kia
  • Genesis
  • Honda
  • Acura
  • Aptera

Other brands, like BMW, Audi, Volkswagen, Porsche, and Subaru, are expected to gain access in the near future.

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Tesla Robotaxi wins over firm that said it was ‘likely to disappoint’

Tesla Robotaxi recently won over a Wall Street firm that had recently said the platform was “likely to disappoint.”

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tesla robotaxi app on phone
Credit: Tesla

Tesla Robotaxi recently won over a Wall Street firm that had recently said the platform was “likely to disappoint.” The ride-hailing service has been operating for about a month, and driverless rides have been offered to a small group of people that continues to expand nearly every day.

JPMorgan went to Austin to test the Tesla Robotaxi platform, and it did so just a few weeks after listing Tesla as one of its “six stocks to short” in 2025. Highlighting the loss of the EV tax credit and labeling the Robotaxi initiative as one that was “likely to disappoint,” despite Tesla’s prowess in its self-driving software.

Analyst Ryan Brinkman has been skeptical of Tesla for some time, even stating that the company’s “sky-high valuation” was not in line with other stocks in the Magnificent Seven.

However, a recent visit to Texas that was made by JPMorgan analysts proved that the Robotaxi platform, despite being in its earliest stages, was enough for them to change their tune, at least slightly. The firm gave its props to the Tesla Robotaxi platform in a note by stating it was “certainly solid and felt like a safe ride at all times.”

It’s always nice to hear skeptics report positive experiences, especially as Robotaxi continues to improve and expand.

Tesla has already expanded its geofence for the Robotaxi suite in Austin, picking a very interesting shape for its newest boundaries:

Tesla’s Robotaxi expansion wasn’t a joke, it was a warning to competitors

As Robotaxi expands, Tesla is dealing with competition from Waymo, another self-driving ride-hailing service that is operating in Austin, among other areas. After Tesla’s expansion, which brought its accessible area to a greater size than Waymo’s, it responded by doubling its geofence.

Waymo’s expansion surpassed Tesla’s size considerably, and it seems Tesla is preparing to expand its geofence in the coming weeks.

Waymo responds to Tesla’s Robotaxi expansion in Austin with bold statement

The Robotaxi platform is not yet available to the public, but Tesla has been inviting more people to try it with every passing day. Currently, the map is roughly 42 square miles, but many believe Tesla is able to broaden this by a considerable margin whenever it decides.

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Investor's Corner

Tesla needs to confront these concerns as its ‘wartime CEO’ returns: Wedbush

Tesla will report earnings for Q2 tomorrow. Here’s what Wedbush expects.

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Credit: Tesla

Tesla (NASDAQ: TSLA) is set to report its earnings for the second quarter of 2025 tomorrow, and although Wall Street firm Wedbush is bullish as the company appears to have its “wartime CEO” back, it is looking for answers to a few concerns investors could have moving forward.

The firm’s lead analyst on Tesla, Dan Ives, has kept a bullish sentiment regarding the stock, even as Musk’s focus seemed to be more on politics and less on the company.

However, Musk has recently returned to his past attitude, which is being completely devoted and dedicated to his companies. He even said he would be sleeping in his office and working seven days a week:


Nevertheless, Ives has continued to push suggestions forward about what Tesla should do, what its potential valuation could be in the coming years with autonomy, and how it will deal with the loss of the EV tax credit.

Tesla preps to expand Robotaxi geofence once again, answering Waymo

These questions are at the forefront of what Ives suggests Tesla should confront on tomorrow’s call, he wrote in a note to investors that was released on Tuesday morning:

“Clearly, losing the EV tax credits with the recent Beltway Bill will be a headwind to Tesla and competitors in the EV landscape looking ahead, and this cash cow will become less of the story (and FCF) in 2026. We would expect some directional guidance on this topic during the conference call. Importantly, we anticipate deliveries globally to rebound in 2H led by some improvement on the key China front with the Model Y refresh a catalyst.”

Ives and Wedbush believe the autonomy could be worth $1 trillion for Tesla, especially as it continues to expand throughout Austin and eventually to other territories.

In the near term, Ives expects Tesla to continue its path of returning to growth:

“While the company has seen significant weakness in China in previous quarters given the rising competitive landscape across EVs, Tesla saw a rebound in June with sales increasing for the first time in eight months reflecting higher demand for its updated Model Y as deliveries in the region are starting to slowly turn a corner with China representing the heart and lungs of the TSLA growth story. Despite seeing more low-cost models enter the market from Chinese OEMs like BYD, Nio, Xpeng, and others, the company’s recent updates to the Model Y spurred increased demand while the accelerated production ramp-up in Shanghai for this refresh cycle reflected TSLA’s ability to meet rising demand in the marquee region. If Musk continues to lead and remain in the driver’s seat at this pace, we believe Tesla is on a path to an accelerated growth path over the coming years with deliveries expected to ramp in the back-half of 2025 following the Model Y refresh cycle.”

Tesla will report earnings tomorrow at market close. Wedbush maintained its ‘Outperform’ rating and held its $500 price target.

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