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Tesla blacklisted by Swedish pension fund AP7 as it sells entire stake

A Swedish pension fund is offloading its Tesla holdings for good.

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(Credit: Tesla)

Tesla shares have been blacklisted by the Swedish pension fund AP7, who said earlier today that it has “verified violations of labor rights in the United States” by the automaker.

The fund ended up selling its entire stake, which was worth around $1.36 billion when it liquidated its holdings in late May. Reuters first reported on AP7’s move.

Other pension and retirement funds have relinquished some of their Tesla holdings due to CEO Elon Musk’s involvement in politics, among other reasons, and although the company’s stock has been a great contributor to growth for many funds over the past decade, these managers are not willing to see past the CEO’s right to free speech.

However, AP7 says the move is related not to Musk’s involvement in government nor his political stances. Instead, the fund said it verified several labor rights violations in the U.S.:

“AP7 has decided to blacklist Tesla due to verified violations of labor rights in the United States. Despite several years of dialogue with Tesla, including shareholder proposals in collaboration with other investors, the company has not taken sufficient measures to address the issues.”

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Tesla made up about 1 percent of the AP7 Equity Fund, according to a spokesperson. This equated to roughly 13 billion crowns, but the fund’s total assets were about 1,181 billion crowns at the end of May when the Tesla stake was sold off.

Tesla has had its share of labor lawsuits over the past few years, just as any large company deals with at some point or another. There have been claims of restrictions against labor union supporters, including one that Tesla was favored by judges, as they did not want pro-union clothing in the factory. Tesla argued that loose-fitting clothing presented a safety hazard, and the courts agreed.

tesla employee

(Photo: Tesla)

There have also been claims of racism at the Fremont Factory by a former elevator contractor named Owen Diaz. He was awarded a substantial sum of $137m. However, U.S. District Judge William Orrick ruled the $137 million award was excessive, reducing it to $15 million. Diaz rejected this sum.

Another jury awarded Diaz $3.2 million. Diaz’s legal team said this payout was inadequate. He and Tesla ultimately settled for an undisclosed amount.

AP7 did not list any of the current labor violations that it cited as its reason for

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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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Elon Musk

Neuralink is planning to launch US trials translating thoughts into text

The trial could help pave the way for people with speech impairments to communicate more quickly and efficiently.

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Credit: Neuralink

Neuralink, Elon Musk’s brain-computer interface company, is reportedly planning to start a US clinical trial in October to use its technology to translate thoughts directly into text. 

The trial was approved by the FDA under an investigational device exemption, and it could help pave the way for people with speech impairments to communicate more quickly and efficiently.

Thought-to-text technology

The upcoming trial aims to read speech directly from the brain, enabling participants to transmit words without moving their mouths or using a keyboard, as noted in a report from Bloomberg News.

DJ Seo, Neuralink’s president, told an audience at the Korea Foundation for Advanced Studies in Seoul that the company hopes to demonstrate communication with large language model AI platforms “at the speed of thought,” potentially faster than spoken speech.

“We think that it’s actually possible to demonstrate abilities to speak to the latest AI model, or LLM models, at the speed of thought, even faster than how you’re speaking, and being able to potentially get that information back through your AirPods, effectively closing the loop,” Seo stated.

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Production ambitions

Ultimately, Seo described the trial as a stepping stone toward broader human enhancement and consumer-facing applications, beyond the company’s initial focus on medical conditions like ALS, stroke, blindness, and Parkinson’s disease.

While initial implants will focus on patients with severe speech impairments, Neuralink plans to eventually expand to healthy individuals by 2030. The company aims to scale to 20,000 implants per year by 2031.

“We’re currently envisioning a world where, in about 3 to 4 years, there will be someone who’s otherwise healthy who’s going to get a Neuralink. If you’re imagining saying something, we would be able to pick that up,” the executive noted.

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Elon Musk and Donald Trump reconcile publicly at Charlie Kirk memorial

The reconciliation fulfilled Kirk’s longtime wish for the two men to mend relations.

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Credit: Elon Musk/X

Elon Musk and U.S. President Donald Trump interacted with each other publicly for the first time since their feud, sharing a handshake and conversation during a memorial service for slain conservative activist Charlie Kirk. 

The reconciliation fulfilled Kirk’s longtime wish for the two men to mend relations, something he had openly discussed prior to his passing.

Kirk’s wishes for Musk and Trump

As noted in a CNN report, Kirk had long positioned himself as an intermediary between Musk and Trump, maintaining close ties with both figures even at the height of their falling out. He highlighted this in a conversation with commentator Megyn Kelly in June. “I know both these guys … I am hopeful, optimistic, and will do everything I possibly can to try and bring this back together,” Kirk said. 

Kirk had also spoken highly of both men. On his podcast, he described Musk’s acquisition of Twitter as “the most important purchase since the Louisiana purchase.” He also praised Trump’s MAGA movement. 

Kirk reportedly texted Musk frequently, urging him to avoid rhetoric that could harm Trump’s agenda. Musk reportedly was receptive to Kirk’s feedback, despite his announcement that he would be launching a third political party in the United States. His prediction proved accurate when Musk and Trump were sighted side-by-side during his memorial service, where they spoke briefly and shook hands.

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Signs of reconciliation

Kirk’s memorial became a symbolic turning point. Andrew Kolvet, executive producer of Kirk’s podcast, posted a photo of Musk and Trump together, noting Kirk’s hope that the two would reconcile “for Charlie.” Musk himself echoed the sentiment, sharing a similar photo with the words “For Charlie,” followed by the White House X account posting the same line later.

Musk has since engaged more positively with Trump on social media, while his America Party PAC shared images of Musk embracing Kirk’s widow, Erika. After her speech calling for forgiveness, Musk posted a passage from the Lord’s Prayer: “Forgive us our trespasses as we forgive those who trespass against us.” 

Kirk had shared his wish for such an outcome in the past. “Knowing both of these men and knowing President Trump much better than Elon, but knowing both of these men, I can tell you I think that there’s going to be a peace treaty moment, a calming down, a moment where both sides come together and we know that we are stronger against the left than we are divided,” Kirk had stated over the summer.

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Tesla says it is working on rides for the handicapped and disabled with Robotaxi

Tesla CEO Elon Musk confirmed that this was a focus by responding, “Absolutely,” to the embedded post on X above. Tesla said it is developing its own “wheelchair-accessible vehicle,” also known as a WAV. 

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Credit: Teslarati

Tesla says on its Robotaxi app that it is working on enabling “accessibility rides” that would give the handicapped and disabled the ability to hail a Robotaxi to get to an appointment.

While Robotaxi will obviously revolutionize the way we travel for our work commutes, daily activities, and other things, but there is true potential to enable serious change for those who cannot drive.

Autonomous transportation would make life easier for those who are unable to obtain a driver’s license. Of course, with today’s ride-sharing platforms, things are much easier than they once were.

However, rides from Uber and Lyft, while plentiful, always have an opportunity to be unavailable in some regions, especially rural ones, due to a lack of drivers.

Robotaxi aims to solve this problem through autonomous transportation, a technology that Tesla has been developing for years.

However, new language in the Robotaxi app shows that Tesla is working on a solution for people who need rides for medical reasons, and it uses a picture of the Robovan to hammer this point home:

Tesla CEO Elon Musk confirmed that this was a focus by responding, “Absolutely,” to the embedded post on X above. Tesla said it is developing its own “wheelchair-accessible vehicle,” also known as a WAV.

This is likely the Robovan, which was unveiled on October 10 at the Robotaxi event last year:

Tesla unveils the Robovan at ‘We, Robot’ event

It is pretty interesting to see two Musk ventures working on solutions for those who are physically impaired or have other disabilities. With Tesla, Robotaxi will unlock immense potential for those who are unable to drive themselves, addressing a genuine need in today’s world.

Additionally, Neuralink is continuing its development of technology to fight against various physical and mental disabilities. A great question to ask is, “Which will be more beneficial for humans?”

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