09:07 AM EDT, 04/11/2024 (MT Newswires) -- Tesla (TSLA) institutional investor KLP may table a motion at the annual general shareholders' meeting to address the company's refusal to engage in collective bargaining, Reuters reported Thursday.

Tesla mechanics in Sweden have been on strike for months, according to the report. An official at KLP told Reuters that Norway's largest pension fund was considering ways to escalate after Tesla and its chief executive Elon Musk failed to answer a December letter on the matter.

"The conflict is still going and Musk does not really want to understand that collective bargaining is the backbone of the Nordic labor model," KLP head of responsible investments Kiran Aziz told Reuters. "The next step with Tesla could be filing a shareholder proposal at its annual general meeting."

KLP holds 900,000 Tesla shares worth $157 million, Reuters reported.

Tesla did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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