(Bloomberg) -- Nordic pension funds plan to send a letter to Tesla Inc.’s management amid concern over the carmaker’s refusal to sign collective labor agreements in Sweden and the rest of the region.
The letter, which hasn’t yet been published, will underscore the “long tradition of entering into collective agreements” in Nordic countries, said PFA, a Danish pension fund which has committed to co-sign the letter along with other Nordic funds.
“As investors in Tesla, we recognize the company’s great contribution to the electrification of the transport sector, but at the same time call on the management to seek a solution to the conflict,” Rasmus Bessing, chief operating officer at PFA Asset Management, said in an email. “It will be best for all parties and the green transition.”
Last week, Denmark’s PensionDanmark A/S became the first major institutional investor in the region to publicly dump shares in the electric-vehicle maker as a result of the labor dispute, selling its $69 million stake.
Read more: How Musk’s Anti-Union Stance Faces Test in Sweden: QuickTake
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