Nordic Tesla (TSLA) investors are pushing the Texas-based automaker to sign a collective agreement with Swedish union IF Metall.
Sixteen major Nordic investors recently sent a letter to Tesla, urging the company to resolve the conflict with IF Metall. The one way to end the conflict with the Swedish union is to sign a collective agreement.
According to Ekot, the letter to Tesla reads:
“…we are deeply concerned about the current conflict in Sweden and Tesla’s attitude towards the right to collective agreements.”
Nordic investors say they would consider selling TSLA shares and relinquish their part ownership of the U.S.-based automaker if it does not sign a collective agreement.
“Tesla must relate to the rules, and the context, that exist where they operate and not bring the American one over to other countries,” commented Kiran Aziz from Norway’s largest pension company, KLP.
The 16 big TSLA investors want to meet with the automaker’s management to discuss the possibility of signing a collective agreement. They seek to meet with Tesla in early 2024.
So far, only Danish fund PensionDanmark has sold all its Tesla holdings. Other Nordic investors have put Tesla on their watchlist, observing the IF Metall’s ongoing strike against the company.
IF Metall’s pension fund for members, the Swedish AMF Pension still invests in Tesla. AMF is owned by LO and owns two billion kroner worth of TSLA stock. It currently has no plans to sell Tesla shares.