Danish Pension Fund Sells Its Tesla Shares Over Union Dispute

PensionDanmark, one of Denmark's largest pension funds, has revealed that it had decided to sell its holdings in Tesla due to the U.S. auto company's refusal to enter into agreements with labor unions.

PensionDenmark, which manages pensions for 823,000 Danes and oversees 317.3 billion Danish crowns ($45.81 billion) in assets, has placed Tesla on its exclusion list. I Photo: PensionDenmark

According to Jacob Gronholt-Pedersen's report for Reuters, this decision is part of a growing Nordic movement to pressure Tesla into signing collective bargaining agreements with Swedish mechanics who have been on strike since October.

Labor unions in Norway and Denmark have also announced plans to block transit shipments of Tesla cars destined for the Swedish market.

Tesla, maintaining a policy of not agreeing to collective bargaining, contends that its employees enjoy terms as good or better than those demanded by the Swedish union.

PensionDanmark's decision to sell its Tesla holdings is influenced by the spreading of conflict in Denmark and Tesla's categorical refusal to engage in labor union agreements. The pension fund, which manages pensions for 823,000 Danes and oversees 317.3 billion Danish crowns ($45.81 billion) in assets, has placed Tesla on its exclusion list.

WEEKLY FEATURE : Jose Mari Chan And The Christmas Anthem