Tesla (TSLA) labor disputes in Europe have now expanded to Denmark with Denmark’s 3F labor union asserting on Tuesday that it’ll help hanging Swedish mechanics by refusing to move Tesla automobiles to Sweden. Just lately, Tesla CEO Elon Musk sat down with CNBC’s Andrew Ross Sorkin on the New York Instances DealBook Summit and expressed his opinion on unions: “I disagree with the thought of unions… I do not like something that creates a lord and peasants kind of factor.”
Yahoo Finance Anchors Rachelle Akuffo and Akiko Fujita break down the most recent improvement for the EV maker.
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Video Transcript
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RACHELLE AKUFFO: It is time now for our Chart of the Day. Taking a look at Tesla’s labor disputes increasing, now escalating in Denmark, with the nation’s largest labor union, saying it is going to pause shipments of automobiles to Sweden in help of these hanging employees. Now, union membership in each Sweden and Denmark are among the many highest in Europe. And cross-border strikes are usually not remarkable within the Scandinavian labor market.
And we all know that after we first noticed clearly, the separate UAW strikes within the US, we puzzled you understand, may Tesla be a beneficiary right here? However a special set of points in terms of the unions in Europe. And we heard Elon Musk beforehand say, look, if we find yourself having these totally different retailers find yourself unionizing, he principally stated it is their fault.
However it’s fascinating that, I imply, whenever you take a look at the Swedish arm, this union, they’ve already been on strike for six weeks. So then to see this momentum with Denmark, it’s going to be fascinating to see how a lot broader this goes.
AKIKO FUJITA: Yeah, actually factors to the challenges of working as a worldwide firm. It isn’t nearly avoiding unions within the US as a result of Tesla just isn’t a union store, but in addition having to go along with a few of these union actions in different nations as effectively.
By the way, we should always level out that if, in reality, they are not capable of import by way of a few of these Scandinavian nations, they’d must do it by way of Germany, which is a five-hour drive, as I perceive it. In order that’s a further step for the corporate. Actually one thing they wish to attempt to keep away from. However one motion that we will be watching very intently.
