Norway’s sovereign wealth fund managed by Norges Bank Investment Management said Saturday it will vote against Elon Musk’s hefty CEO compensation package during Tesla’s annual meeting on Thursday.

It’s the latest pushback over the size of the pay package, which was recently valued by the company at $44.9 billion but in January had a value of about $56 billion. In May, two big shareholder advisory firms, ISS and Glass Lewis, recommended voting against the package. NBIM, which has a .98% stake in Tesla worth $7.72 billion, voted against the package initially in 2018.

Real-world mileage standard for new vehicles rising to 38 mpg in 2031 under new Biden rule

New vehicles sold in the U.S. will have to average about 38 miles per gallon of gasoline in 2031 in real-world driving, up from about 29 mpg this year, under new federal rules unveiled Friday by the Biden administration.

The final rule by the National Highway Traffic Safety Administration will increase fuel economy by 2% per year for model years 2027 to 2031 for passenger cars. The final figures are below a proposal released last year and are meant to give the auto industry flexibility to focus on electric vehicles, a key priority of President Joe Biden. He has set a goal that half of all new vehicles sold in the U.S. in 2030 are electric.

Even as he promotes EVs, Biden needs cooperation from the auto industry and political support from auto workers, a key political voting bloc, as the Democratic president seeks reelection in November. The United Auto Workers union has endorsed Biden but has said it wants to make sure the transition to electric vehicles does not cause job losses and that the industry pays top wages to workers who build EVs and batteries.