Norway’s largest pension fund, KLP, announced its support for Tesla workers in the ongoing collective bargaining issue in the Nordic region. KLP stated that it would also vote against Tesla CEO Elon Musk’s $56 billion pay package and the company’s relocation of incorporation from Delaware to Texas.
The conflict between Tesla and workers in the Nordic region has been ongoing for more than eight months, resulting in a strike by many workers and solidarity strikes from various workers’ unions.
“We will support the proposal,” said Kiran Aziz of KLP to Reuters, referring to the workers’ request for Tesla to engage in wage talks and other labor negotiations at the upcoming Shareholder Meeting. “We hope (it) will gain significant support from other shareholders, too.”
Tesla has a proposal on the agenda for the Shareholder Meeting aimed at adopting a policy committing to non-interference and good faith bargaining concerning freedom of association and collective bargaining.
The conflict has started to impact Tesla’s operations, with drivers facing difficulties in accessing license plates as the Transport Workers’ Union joined IF Metall in solidarity strikes.
Tesla sued the Transport Agency over the matter, but the Swedish Court ruled against hearing the action brought by Tesla, stating it “did not have the jurisdiction” to do so.
KLP, a major Tesla shareholder, owns 900,000 shares worth over $160 million. The firm’s stance underscores growing investor concern over the ongoing labor dispute and its implications for Tesla’s business and operations.
