Electric vehicle major Tesla (NASDAQ:TSLA) has sued the Swedish government’s Transport Agency. This comes after a workers’ strike impacted the firm’s request for new license plates for its new vehicles in the country, according to Dagens Industri.
Tesla is facing production disruptions in Sweden after a labor dispute in seven repair shops spread to impact the company’s operations in the country. Earlier, CEO Elon Musk categorized the strikes as “Insane.”
While IF Metall, the largest manufacturing union in Sweden, is seeking a collective bargaining agreement for its mechanics, members of other service unions have joined in on the action in solidarity. According to Reuters, the blockade from nine unions in Sweden includes postal workers, cleaners, and dockworkers as the strikes in the repair shops enter their fifth week.
Separately, Tesla is gearing up to invest up to $2 billion in a plant in India if the country’s government slashes import duties on vehicles to about 15% during the first two years of production.
What Is the Target Price for TSLA Stock?
Overall, the Street has a Hold consensus rating on Tesla. Following a nearly 38% just in the company’s share price over the past year, the average TSLA price target of $247.29 implies a modest 5% potential upside.
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