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Tesla shareholder and pension fund KLP to vote for collective bargaining, against Musk pay package

Tesla Dubai Showroom and Service Center [Credit: fingerzdxb via Tesla Subreddit]

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Tesla took a hit in its ongoing conflict with workers in the Nordic region this morning as an investor and Norway’s largest pension fund, known as KLP, said it will back workers in the collective bargaining issue that has gone on for more than eight months.

It also said it would vote against the ratification of Tesla CEO Elon Musk’s $56 billion pay package and its relocation of incorporation from Delaware to Texas.

KLP said today that it would back the workers who are requesting Tesla engage in wage talks and other labor negotiations at the upcoming Shareholder Meeting.

The talks have resulted in a strike of many workers in the region, which has snowballed into solidarity strikes from various workers’ unions.

“We will support the proposal,” Kiran Aziz of KLP said to Reuters in a report. “We hope (it) will gain significant support from other shareholders, too.”

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Tesla has a proposal on its agenda for next Thursday’s Shareholder Meeting that aims for investors to vote on the company’s potential “to adopt a policy explicitly committing to non-interference and good faith bargaining…with respect to freedom of association and collective bargaining.”

Many investors have been concerned about the issue, especially as it has started to impact other portions of Tesla’s business and operations. Drivers have not been able to easily access license plates as the Transport Workers’ Union joined IF Metall in an act of solidarity.

Tesla sued the Transport Agency for the move, but the Swedish Court ruled that it did not have to hear the action brought by Tesla as it said it “did not have the jurisdiction” to do so.

KLP is a major Tesla shareholder and owns 900,000 shares worth over $160 million.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

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Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Tesla best-rated car brand in UK, beats Toyota in reliability: survey

The survey asked readers to rate their cars across metrics like efficiency, reliability, practicality, safety, comfort, and performance.

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Credit: Tesla China

Tesla critics would typically paint the company’s electric vehicles as reliability nightmares with subpar build quality and cheap materials. As per a survey from the U.K., however, the opposite is true, as Tesla is not just the country’s overall best-rated car brand, it is also the second most reliable carmaker.

The survey was conducted by HonestJohn.co.uk, which asked its readers to rate their cars across several metrics, such as efficiency, reliability, practicality, safety, comfort, and performance. Over 6,000 respondents participated in the recent survey.

UK’s Overall Best-Rated Car Brand

Based on the respondents of the Honest John Satisfaction Index survey, Tesla was the U.K.’s best-rated car brand for 2025 with a satisfaction index rating of 89.41%. In second place is Japanese premium carmaker Lexus, which garnered a satisfaction index rating of 86.32%. In third place is Porsche, which garnered a satisfaction index rating of 84.79%.

Tesla’s Reliability Surprise

While Tesla’s high customer satisfaction index scores in the survey were not that shocking, the company’s rankings in reliability are especially surprising. Tesla critics typically accuse Tesla of producing vehicles that are not reliable or are prone to imperfections like panel gaps. But as can be seen in the U.K. survey, Tesla’s reliability has actually improved a lot. 

Tesla’s reliability rating in the Honest John survey was an impressive 95.29%. That’s just below Lexus, which was the number one at 97.01%. Tesla was also above Toyota, which was in third place with a reliability rating of 94.65%.

What Honest John Says

In its rankings for the U.K.’s most reliable car brands, Honest John highlighted that while Tesla tended to be hit or miss with things like build quality in the past, the company has matured a lot in recent years. 

“While we were always impressed by the technology within Tesla’s range of exclusively electrically powered cars, build quality seemed to be a little hit and miss, to say the least. Evidently, matters have improved significantly in this regard according to our readers’ feedback as not only has the brand scored well for reliability across its four-strong range but the Tesla Model 3 was also rated as the most satisfying car to own overall,” the publication wrote. 

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Tesla Unveils Model Y RWD 110 customized for Singapore

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tesla-model-y-rwd-110-custom-singapore
(Credit: Tesla Singapore)

Tesla unveiled the Model Y RWD 110 for Singapore’s Category A certificate of entitlement (COE) rules. This custom SUV tweaks the updated Model Y, which was launched in Singapore in January.

Tesla tuned the Model 3 RWD 110 for Singapore before, and that customized version’s success spurred this Model Y adaptation. The Model Y RWD 110 runs at 110kW, down from 255kW in the standard RWD. It qualifies for Singapore’s Category A COE, unlike the Model Y 255kW version, which sits in Category B.

Category A COEs are for mass-market cars. They score lower premiums than Category B COEs. BMW and Mercedes-Benz register vehicles as Category A COEs in Singapore as well.

In Singapore, buyers need to pay the COE to register a car. The latest tender showed an SGD 22,388 gap between Category A and B premiums.

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The Model Y RWD 110’s road tax is significantly reduced from SGD 3,478 to SGD 1,562 yearly. The Strait Times calculated that the cheaper Model Y in Singapore would save SGD 19,160 over a 10-year COE.

The Model Y RWD 110 matches the 255kW version otherwise. The more affordable Model Y’s battery size holds steady. Its energy use, equipment, and design stay the same.

Tesla prices the Model Y RWD 110 at SGD 103,476 before COE. The Model Y RWD 110 costs SGD 3,026 less than the 255kW version, excluding COE costs. It uses a 62.5kWh lithium iron phosphate battery.

Tesla has released cheaper versions of its cars before. For instance, it rolled out a more affordable Model 3 in Mexico last year. The cheaper Tesla Model 3 in Mexico did not use the same materials and had different features to reduce costs.

Tesla might consider releasing custom, cheaper versions of its vehicles in other countries. Industry sources in China hint at a “lower-priced Model Y” for the Chinese auto market, which keeps the Juniper’s battery and chassis

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Tesla US Gigafactories shields from Trump’s 25% Tariffs

Tesla US Gigafactories Shielded from Trump’s 25% Tariffs

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Credit: Elon Musk/X

Tesla stocks climbed after U.S. President Donald Trump announced tariffs on imported cars and auto parts, standing out in the United States auto industry.

Automaker stocks tanked after President Trump slapped 25% tariffs on foreign autos and parts. Tesla slightly dodged the tariff blow thanks to local production. Its gigafactories in China and Germany don’t supply Tesla vehicles to the United States market. The company builds all U.S.-sold EVs in Fremont, California, or at Giga Austin in Texas.

TD Cowen analyst Itay Michaeli sees the American EV automaker as a winner in Trump’s tariffs games.

“Tesla [is] a relative beneficiary given [its] 100% U.S. production footprint, substantial U.S. sourcing, and with Model Y competing in a midsize crossover segment where close to ~50% of vehicles could be subject to tariffs,” Michaeli wrote on Thursday.

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Rivian and Lucid also make all vehicles sold in the United States domestically. Ford hits 77% U.S. production, while Stellantis sits at 57%. Nissan and GM each clock in at 52%.

Trump’s 25% tariff on non-U.S.-made vehicles kicks in next week, on April 2, 2025. Elon Musk confirmed that Trump’s tariff will still affect Tesla, despite its plants in America.

Musk posted on X about tariff impacts. He said foreign-sourced parts will drive up costs. It’s not a small hit. Tesla warned of this in a letter to the U.S. Trade Representative. “Certain parts and components are difficult or impossible to source within the United States,” the letter stated, even with “aggressive localization.”

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