Tesla Sweden has mostly stayed quiet during trade union IF Metall’s strike. That is, at least, until recently, when Tesla Sweden Market Lead Jens Stark spoke with Dagens Industri about the electric vehicle maker’s current operations and the effects of IF Metall’s ongoing strike.
While some media reports have framed a narrative that is mostly centered on IF Metall’s talking points in the conflict, Stark noted that Tesla is working very closely with its employees. And so far, the Tesla Market Lead noted that the electric vehicle maker’s employees are operating as one strong team.
“We work very closely with our employees. We have just had a digital information meeting where we have asked how everyone is doing and they can also write in questions. No one asks about collective agreements. However, they want to know how they can help with different solutions in this situation,” Stark noted.
For the very first time since the strike against Tesla in Sweden started almost 5 months ago, Swedish Tesla manager speaks to media!!
This debunks all the lies IF Metall have told you since October!
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No one asks about collective agreements"
Tesla's Swedish manager after… https://t.co/lYpwjaR04Q pic.twitter.com/0kqiQ0ASNr— Nicklas ???T???♻️? (@NicklasNilsso14) March 17, 2024
Tesla Sweden has been struck not just by IF Metall. It has also been struck by sympathy strikes from the trade union’s allies. These sympathy strikes have made things more challenging for Tesla, but the electric vehicle maker has mostly found workarounds so that it could continue its operations. These workarounds have become a big reason why Tesla and IF Metall’s conflict still has no end in sight.
As noted by Dagens Industri, IF Metall’s strike against Tesla started on October 27, 2023. Thus, the protests against the electric vehicle maker have been going on for nearly five months now. That’s the longest labor market conflict in Sweden since the 1940s. Stark, however, noted in his interview that the conditions of Tesla Sweden’s employees are already comparable to those whose companies have a collective agreement.
“We know that there is a strong correlation between satisfied employees and company success, which is why we put so much effort into benefits and compensation. But also how you can grow in the company and that everyone gets shares. We place a lot of importance on our employees, contrary to the stigma that the union wants to put on us. Otherwise, over 90 percent would not have been at work,” he said.
Tesla has so far been successful in its efforts to continue its operations despite the efforts from IF Metall and its allies. The Tesla Model Y became Sweden’s best-selling car in 2023, and the company saw a sales increase of 120%. Tesla Sweden’s stellar performance in 2023 meant that the EV maker captured a 7% market share in Sweden. And while this market share has dropped to 5% during the first two months of the year, Tesla Sweden is confident that 2024 will be yet another good year.
“Yes, but at the same time we have grown by over 100% compared to the previous year. For us, March is an important month for deliveries. We feel confident that we will have Sweden’s best-selling car when we sum up the year,” Stark said.
The Tesla Sweden Market Lead’s full interview can be viewed here.
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Tesla stock (NASDAQ: TSLA) endured one of its sharpest single-day declines in years on July 23, tumbling approximately 14.5 percent and closing near $320 after opening the session around $374. The drop erased more than $140 billion in market value amid heavy trading volume and left the shares at multi-week lows.
The sell-off followed the company’s second-quarter 2026 results, released the previous evening. Tesla reported record revenue of $28.2 billion, up 26 percent year over year, driven by a Q2-record 480,126 vehicle deliveries. Energy storage deployments also rose strongly.
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
Yet profitability disappointed sharply. Operating income fell 57 percent to $398 million, compressing the operating margin to just 1.4 percent. Non-GAAP earnings per share came in at $0.33, well below the roughly $0.53 analysts had expected. Free cash flow turned negative by $1.1 billion as capital expenditures surged 142 percent to $5.8 billion, largely tied to accelerated spending on artificial intelligence, robotics, and autonomous systems.
The losses on capex were expected, as Tesla said it would be spending heavily in 2026.
Investors also reacted to lingering uncertainty surrounding key product timelines. During the Earnings Call, management reiterated ambitions for Robotaxi deployment and the Optimus humanoid robot, but offered limited new concrete milestones, renewing questions about execution pace that have long accompanied Tesla’s ambitious roadmap.
The magnitude of the decline places it among Tesla’s more severe one-day percentage losses since its 2010 initial public offering. Historically, the two largest single-day drops (split-adjusted) remain September 8, 2020, when shares fell 21.1 percent amid broader market volatility and valuation concerns, and January 13, 2012, with a 19.3 percent plunge during the company’s early growth struggles.
Other notable declines include an 18.6 percent drop on March 16, 2020, at the onset of pandemic-related market turmoil. Thursday’s move ranks roughly ninth on the all-time list but stands out as the steepest in more than a year.
Despite the short-term pain, Tesla’s long-term trajectory has repeatedly recovered from such volatility. The latest results underscore both the strength of its core automotive and energy businesses and the near-term costs of heavy investment in next-generation technologies.
Elon Musk clapped back at France’s decision to withhold the approval for Tesla’s Full Self-Driving (FSD) Supervised system, projecting a clear and blunt message to French Transport Minister Phillippe Tabarot, after he publicly rejected the technology in its current form.
Tabarot outlines several concerns with Tesla Full Self-Driving in a detailed video statement, where he said, “The safety trade-offs are not yet sufficient to authorize it as it currently stands,” he said. He emphasized that FSD is not a true self-driving system and that the driver remains fully responsible.
Key issues Tabarot also brought up included allowing speeding when surrounding traffic exceeds limits and what he believes are insufficient guarantees of driver attention during complex urban maneuvers such as lane changes, intersections, and roundabouts.
Delaying the approval of FSD in France will cost lives
— Elon Musk (@elonmusk) July 22, 2026
While acknowledging technological progress and France’s support for autonomous innovation, Tabarot stressed that deployment must prioritize road safety. He noted ongoing technical discussions with Tesla, the Netherlands, and other European partners, with further ecosystem meetings planned for the fall.
Musk’s rebuke highlights the human cost of regulatory caution. Tesla’s latest safety reports provide compelling data supporting accelerated adoption. In the most recent 12-month period, vehicles using FSD (Supervised) recorded one major collision per approximately 5.1 million miles driven, dramatically better than the U.S. national average of one crash per 698,000 miles.
Even Tesla vehicles driven manually with active safety features outperform the average by a wide margin. These figures come from billions of real-world miles of telemetry, showing FSD vehicles involved in far fewer incidents than both manual Teslas and the broader U.S. fleet.
Critics argue Tesla’s comparisons require careful scrutiny regarding reporting thresholds and fleet demographics, yet the data consistently positions FSD as a potential lifesaver. With road fatalities remaining a leading cause of death worldwide, Musk contends that proven safer technology should not face prolonged bureaucratic hurdles.
France’s measured approach reflects the broader European regulatory caution, which many, especially Musk, have been critical of in the past. However, as autonomous systems from Tesla and competitors like Waymo demonstrate superior safety in independent studies, pressure is mounting for harmonized approvals.
Musk’s warning carries the belief that every month of delay may equate to avoidable tragedies on European roads.
In a striking revelation that underscores the lucrative crossover between Big Tech and space exploration, Alphabet Inc., Google’s parent company, disclosed a massive $94.1 billion equity stake in SpaceX following the rocket company’s blockbuster initial public offering earlier this year.
The disclosure came in Alphabet’s quarterly filing, marking the first time the long-held private investment has been publicly valued at market prices. Google was an early backer, investing alongside Fidelity in 2015 with roughly $500-900 million at a time when SpaceX was valued around $12 billion.
That bet has delivered extraordinary returns, roughly a hundredfold, transforming a strategic play on satellite internet and launch capabilities into one of Alphabet’s largest assets.
Google, $GOOGL, has said they hold $94 billion in SpaceX, $SPCX, shares after IPO.
— unusual_whales (@unusual_whales) July 23, 2026
Of the total holding, approximately $80 billion remains subject to short-term post-IPO lockup restrictions, preventing near-term sales. An additional $14.1 billion faces longer-term restrictions, extending into the third quarter of 2027. This structure limits immediate liquidity but protects against market volatility as SpaceX transitions into public trading.
The SpaceX position contributed significantly to gains in Alphabet’s broader investment portfolio, which also includes a major stake in AI leader Anthropic. Combined, these holdings helped drive nearly $100 billion in investment gains during the second quarter, providing a substantial boost to net income amid ongoing AI spending pressures.
Analysts view the disclosure as validation of Alphabet’s venture strategy beyond its core search and cloud businesses. The investment aligns with deeper ties, including reported multi-billion-dollar deals for AI computing capacity on SpaceX infrastructure. As SpaceX advances Starship flights, Starlink expansion, and ambitious Mars goals under Elon Musk, Google’s stake positions it to benefit from the commercialization of space.
For Alphabet, the windfall highlights how patient, forward-looking bets in transformative sectors can yield outsized rewards. While lockups temper short-term impact, the holding cements SpaceX as a cornerstone of Alphabet’s diversified portfolio in an era where aerospace, AI, and connectivity increasingly intersect. Investors will watch closely as restrictions lift and SpaceX’s public performance unfolds.
Tesla stock tumbles after earnings, one of its sharpest single-day declines
Elon Musk is not happy about this Tesla Full Self-Driving approval delay
