Swedish Insurance Giant Divests Tesla Stake

In a bold move, Folksam Group, a leading Swedish insurance company, has announced its decision to sell off its entire stake in Tesla Inc. This decision comes after the electric car manufacturer's approach to employee union rights was found to be in conflict with Folksam's investment principles.

"Our efforts to engage in dialogue and advocate for change have not yielded the desired outcomes. Consequently, we've made the difficult decision to divest," the company stated in a recent press release, highlighting the unresolved issues regarding Tesla's stance on union rights.