Dispute with the union
Swedish insurance sells all Tesla shares
02.04.2025 – 1:51 p.m.Reading time: 1 min.
The Swedish insurance Folksam sold its complete Tesla shares. However, the step has nothing to do with the current course burglaries.
The Swedish insurance group Folksam has sold its entire shares in the E-car maker Tesla. The reason for this is Tesla’s handling of the employee and trade union rights of its employees with which the company of Tech billionaire Elon Musk violated the placement criteria of the folksam group, the group said in Stockholm.
Efforts to change something in Tesla’s attitude were unsuccessful, which is why the decision was made to sell. How many Tesla shares Folksam kept was not evident from the information.
The folksam group is one of the largest insurance companies in Sweden. Tesla has long been in a dispute in the Scandinavian country in a dispute with the IF Metall union because the car manufacturer refuses to sign a collective agreement.
There are similar conflicts in the Teslawerk in Grünheide near Berlin. According to the IG Metall union, Tesla often doubts sick leave of employees in a first step, the “Handelsblatt” reported. Tesla replies that it is around a dozen cases. Tesla also rejects a collective agreement in Grünheide.
Tesla will later be expected to provide information on deliveries in the first quarter on Wednesday. The numbers will show the effect of the generation change in the bestseller Model Y and the controversy about the political activities of company boss Musk on the Tesla business. The Tesla share has significantly lost value this year.
