Danish Pension Fund Divests Tesla Holdings Over Labor Union Dispute 💲

PensionDanmark, one of Denmark’s largest pension funds managing assets for 823,000 Danes, announced on Wednesday its decision to sell its holdings in Tesla (TSLA.O). The move comes as a response to Tesla’s refusal to engage in agreements with labor unions, particularly in Sweden, where mechanics have been on strike since October. The Nordic initiative to pressure Tesla into signing collective bargaining agreements has gained momentum, with labor unions in Norway and Denmark announcing plans to block transit shipments of Tesla cars destined for the Swedish market. Tesla maintains a policy of not entering into collective bargaining, asserting that its employees already enjoy favorable terms compared to the demands of the Swedish union. In light of Tesla’s uncompromising stance and the labor dispute spreading to Denmark, PensionDanmark stated that they currently see limited influence as investors and have consequently added Tesla to their exclusion list.