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Tesla blacklisted by Swedish pension fund AP7 as it sells entire stake

  • Swedish pension fund AP7 blacklists Tesla for verified violations of labor rights in the U.S.
  • AP7 sells its entire $1.36 billion stake in Tesla due to insufficient measures taken by the company to address issues.
  • Pension funds have divested Tesla holdings over Elon Musk's political involvement, but AP7's move is not based on this reason.
  • Tesla made up about 1 percent of AP7 Equity Fund, equivalent to roughly 13 billion crowns.
  • Several labor lawsuits have been filed against Tesla over the years, including claims of restricting labor union supporters.
  • Racism claims at the Freemont Factory led to substantial legal awards for a former contractor, with settlements reached.
  • AP7 did not disclose specific labor violations that led to blacklisting Tesla.
  • EligibleForWebStory: true

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