Norwegian pension fund KLP considers shareholder proposal
Fund says Musk underestimates worker dispute
Tesla has said Swedish conditions already meet demands
KLP excluded Tesla from its sustainable funds last year

OSLOSTOCKHOLM, Reuters KLP, Norway39;s largest pension fund and a Tesla investor, may ask the electric carmaker39;s annual general meeting to address CEO Elon Musk39;s reluctance to engage in collective bargaining, the fund said on Thursday.

A strike by Tesla mechanics in Sweden, among the country39;s longest labour disputes, has for months disrupted the automaker39;s operations and attracted the concern of several Nordic institutional investors.

On Monday, Musk said the storm had passed on that front. But the strike is continuing and the union leading the action told Reuters this week it may ramp it up.

KLP was a signatory to a December letter sent by Nordic investors expressing their concern about the strike in Sweden and Tesla39;s reluctance to acknowledge a right to collective bargaining.

That Elon Musk is saying that the 39;storm has passed39; is just his way to underestimate the conflict and the issue, Kiran Aziz, KLP39;s head of responsible investments, told Reuters.

The conflict is still going and Musk does not really want to understand that collective bargaining is the backbone of the Nordic labour model.

Tesla did not immediately respond to a request for comment. It has previously said its Swedish employees have as good, or better, terms…

Leave A Comment