July 9 (Reuters) -

A group of 27 major Tesla shareholders urged the

electric automaker's board on Wednesday to set a date for its

annual shareholder meeting this year, citing legal obligations

and growing governance concerns.

Tesla is close to missing a legal deadline and has not

announced this year's meeting, the group consisting of U.S.

state treasurers, pension funds and governance experts said in a

letter.

"Tesla's ongoing silence on the AGM is cause for

concern," they said against the backdrop of mounting scrutiny of

over CEO Elon Musk's political ambitions and the automaker's

falling sales and stock price.

The company did not immediately respond to a request for

comment.

Investor confidence has taken a hit after Musk's public

feud with President Donald Trump and the ending of EV tax

credits meant to boost sales of green vehicles. Tesla shares are

down 27% so far this year.

Under Texas law, shareholders can move a court to

require the company to hold its annual meeting if it has not

done so within 13 months of the previous one.

Tesla's last meeting was held in June 2024. The company

had in April said it would file its annual proxy statement later

than expected as the board had not decided on a date for the

annual shareholder meeting.

The EV maker had then said the board had formed a

special committee

to consider some compensation matters involving Musk,

without disclosing any details.

Last year,

shareholders approved

Musk's controversial $56 billion compensation package

despite a Delaware court ruling that had previously voided it.

Tesla is now

on track

for a second straight year of declining sales as its

vehicle deliveries fell 13.5% in the second quarter.

Adding to the turbulence, Musk's push to launch a new

political party have raised concerns about distractions from

Tesla's core business.