Swedish insurer drops $160 mn Tesla stake over labour rights

Swedish insurer Folksam drops $160 million Tesla stake over labour rights

Swedish insurance company Folksam said Wednesday it had given up its $160 million stake in Tesla due to the electric carmaker's approach to labour rights.

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Swedish insurer drops $160 mn Tesla stake over labour rights

Swedish insurance company Folksam said Wednesday it had given up its $160 million stake in Tesla due to the electric carmaker's approach to labour rights.

The Swedish pension giant's decision. Has tried to influence Elon Musk via "ownership control".

Insurance giant Folksam is selling its entire holding in electric car company Tesla. Folksam has reportedly tried to influence Tesla without success, according to the company.

Folksam, which holds about $160 million in Tesla stock, said the US automaker’s approach to unionization represents “problematic” worker interests.