Car Swedish insurance giant sells all Tesla shares
The political and economic actions of Tesla boss and Trump supporter Elon Musk are attracting international criticism. In Sweden, an insurer is now selling its entire Tesla portfolio.
02.04.2025, 11:53
SDA
The reason for this is Tesla's handling of the employee and trade union rights of its employees, with which the company is violating the group's placement criteria, Folksam announced on Wednesday. Efforts to change Tesla's attitude have been unsuccessful. It was not clear from the information how many Tesla shares Folksam held.
The Folksam Group is one of the largest insurance companies in Sweden. Tesla has been in dispute with the IF Metall trade union in the Scandinavian country for some time because the car manufacturer refuses to sign a collective agreement.
Tesla is expected to provide information on deliveries in the first quarter later on Wednesday. The figures will show what effect the generational change in the best-selling Model Y and the controversies surrounding CEO Musk's political activities have had on Tesla's business. Tesla shares have lost significant value this year.
