© Reuters. FILE PHOTO: A general view of a Tesla store in Porsgrunn, Norway, December 24, 2021. Picture taken December 24, 2021. REUTERS/Victoria Klesty/File Photo
By Terje Solsvik
OSLO (Reuters) -U.S. automaker Tesla (NASDAQ:) Inc should respect fundamental labour rights including collective bargaining, Norway’s $1.5 trillion sovereign wealth fund said, while adding it would keep its stake in the company and seek to influence policy over time.
The electric vehicle producer faces a backlash in the Nordic region from unions and some pension funds over its refusal to accept a demand from Swedish mechanics for collective bargaining rights covering wages and other conditions.
Norges Bank Investment Management (NBIM), the world’s largest stock market investor and Tesla’s 7th biggest shareholder with a 0.88% stake worth $6.8 billion, said on Saturday it had “no plans” to divest its holdings in the company, unlike some other funds.
“We expect companies in which we invest to respect fundamental human rights, including labour rights,” NBIM said in a statement to Reuters when asked about Tesla’s conflict with its Swedish workers.
“In 2022 we supported a shareholder proposal at…
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