Tesla Sold $890 Million Worth of Products to SpaceX and xAI

[UK Extended Fuel Duty Cut to Ease Inflation Pressure Driven by Middle East Tensions] On May 20, the UK government announced that it would extend the fuel duty cut for motor vehicles until the end of this year to ease the pressure of rising living costs caused by the escalation of the Middle East conflict.

[CATL and Tencent Join Forces to Boost Carbon Credit Demand] Two of China's largest companies by market capitalization — Tencent and CATL — are joining hands in a new initiative aimed at boosting corporate demand in the cooling carbon credit market. The tech giant and power battery industry leader will join Mitsubishi Corporation, Vale, Osaka Gas, and other enterprises in the Climate Resilience Action Alliance, a non-profit organization established in Singapore on May 19. The alliance aims to promote the practical application of high-quality carbon credits, with a target of alliance members collectively purchasing at least 10,000kt of high-quality carbon credits by 2030.

[Hyundai Recalls Over 54,000 Vehicles in the US Due to Fire Risk] On May 20, the National Highway Traffic Safety Administration issued a notice stating that Hyundai would recall 54,337 vehicles in the US market due to a fire hazard caused by overheating in the hybrid power control unit. The recall involved select 2024 to 2026 Elantra Hybrid car models.