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European Investment Bank set to vote on a major fossil fuel lending policy
The European Investment Bank (EIB), the world’s largest international public lending institution, will meet on October 15 to determine whether or not they should continue to fund oil and gas companies with billions of dollars. A potential cut in funding would mean a huge victory for eco-friendly groups, as it would bring an end to direct financial support from the EIB to the main contributors to the climate crisis: oil and gas companies.
European countries and citizens have made it clear that they understand the severity and urgency of climate-based issues, with eight countries in the EU already proposing bills and laws that would begin the phase-out of petrol-powered vehicles. The sale of these cars influences a negative environmental response in a direct manner, as emissions from internal combustion engines hurt the overall quality of the environment. As protests and marches that bring to light the issues of climate change have become more popular and frequent, citizens are doing their part as human beings to increase awareness of the ever-growing issues that fossil fuels provide to the Earth.
In Europe, EIB holds the key to beginning a new era of eco-friendly investing. Bill McKibben, an author, and Schumann Distinguished Scholar in environmental studies at Middlebury College, Vermont, stated that on October 15, the EIB will meet to discuss whether they will continue to fund projects that assist in the growth of the fossil-fuel industry. This meeting could be Europe’s next big step in the war against fossil-fuels.
In 2018, the bank supplied companies in the gas and oil sector with €2.4 billion for projects. If the EIB decides to begin pulling funding from petroleum-based projects, it could pave the way for eco-friendly options to receive financial backing. The EIB’s staff has proposed an end to providing gas and oil companies with funding, a project that would go into effect in 2020. However, resistance is expected to be encountered by governments who still believe in the use of fossil fuels: Germany and Italy to name a couple.
Climate activists know that the first steps in beginning the phase-out period for the use of pollution-inducing petroleum projects is to cut funding. Without money, projects cannot flourish. A key factor in fighting the fossil-fuel sector is to stop funding projects that do not help our environment. With ocean levels rising and global temperatures reaching all-time highs, the time to act is now.
In the U.S., the climate movement is alive and well, but the issue is navigating the government away from projects that involve gas and oil companies. With the country’s current political climate, there seems to be little hope that climate activists will be able to make any significant changes before the 2020 election. But that doesn’t mean that companies and organizations are not making efforts to initiate a “greener” future. In September 2019, the University of California scrapped an $80 billion endowment for stocks that would support fossil fuels.
Whether looking at the world from a transportation or energy stance, it is clear that the future is electric. Oil and gas are becoming less and less convenient, especially for 800,000 homeowners in California’s Bay Area after Pacific Gas and Electric (PG&E) shut off power in an attempt to reduce the possibility of forest fires at the beginning of the windy Autumn season. Tesla CEO Elon Musk made every attempt to help alleviate some of the inconveniences for those who are still without power by offering a discount on the installation of solar and battery systems for residences. In addition, Musk announced that Tesla owners would be able to charge their vehicles with the help of Tesla Powerpacks that will be installed to Supercharger stations within the affected region.
The next few years will be a crucial time for the Earth, as scientists have suggested that a significant amount of effort is needed to fight the global climate crisis. The United Nations’ leading climate scientists have warned that we have 12 years to begin fighting climate issues seriously, or there could be major consequences. Generations to come will have an unlimited amount of issues to fight, such as water and food shortages if action is not taken soon. But the question that remains is this: Can we afford to test this theory? Scientists could be wrong in the estimations, but can humans take the chance?
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Tesla Model Y dominated China’s NEV sales in December 2025
As per sales data from China, the all-electric crossover finished first among the country’s best-selling EVs and plug-in hybrids.
The Tesla Model Y ranked as China’s top-selling new energy vehicle in December, leading an intensely competitive market packed with strong domestic brands.
As per sales data from China, the all-electric crossover finished first among the country’s best-selling EVs and plug-in hybrids. The Model 3 also placed within the country’s top ten vehicles.
Model Y leads China’s NEV rankings
The graphic, shared on X and sourced from Chinese auto industry data aggregator Yiche, listed the top 20 best-selling new energy vehicles in China for December. Tesla’s Model Y claimed the No. 1 position with roughly 65,874 units sold, finishing well ahead of a field dominated by domestic manufacturers such as BYD, SAIC-GM-Wuling, and Xiaomi.
The chart also showed strong performances from other high-volume models, including BYD’s Qin Plus, which sold 46,837 units during the month. Tesla’s Model 3 ranked eighth overall, with just under 28,000 units sold, placing it ahead of numerous locally produced competitors despite its rather premium price.
Tesla China’s strong December
Tesla China had a stellar December 2025. During the month, Tesla sold 97,171 vehicles wholesale in China, as per data from the China Passenger Car Association (CPCA). The result marked Tesla China’s second-highest monthly total on record, trailing only November 2022’s peak of 100,291 units.
December’s wholesale figure represented a 3.63% increase from the same month a year earlier and a 12.08% jump from November. Industry watchers have suggested that part of the surge was driven by Tesla pulling deliveries forward to allow customers to benefit from more favorable purchase tax policies before year-end.
Despite this, December’s results suggest that Tesla’s Model Y and Model 3 remain highly competitive offerings in China, which is extremely impressive considering the competition from domestic players and their still premium price.
Elon Musk
Elon Musk’s net worth is nearing $800 billion, and it’s no small part due to xAI
A newly confirmed $20 billion xAI funding round valued the business at $250 billion, adding an estimated $62 billion to Musk’s fortune.
Elon Musk moved within reach of an unprecedented $800 billion net worth after private investors sharply increased the valuation of xAI Holdings, his artificial intelligence and social media company.
A newly confirmed $20 billion funding round valued the business at $250 billion, adding an estimated $62 billion to Musk’s fortune and widening his lead as the world’s wealthiest individual.
xAI’s valuation jump
Forbes confirmed that xAI Holdings was valued at $250 billion following its $20 billion funding round. That’s more than double the $113 billion valuation Musk cited when he merged his AI startup xAI with social media platform X last year. Musk owned roughly 49% of the combined company, which Forbes estimated was worth about $122 billion after the deal closed.
xAI’s recent valuation increase pushed Musk’s total net worth to approximately $780 billion, as per Forbes’ Real-Time Billionaires List. The jump represented one of the single largest wealth gains ever recorded in a private funding round.
Interestingly enough, xAI’s funding round also boosted the AI startup’s other billionaire investors. Saudi investor Prince Alwaleed Bin Talal Alsaud held an estimated 1.6% stake in xAI worth about $4 billion, so the recent funding round boosted his net worth to $19.4 billion. Twitter co-founder Jack Dorsey and Oracle co-founder Larry Ellison each owned roughly 0.8% stakes that are now valued at about $2.1 billion, increasing their net worths to $6 billion and $241 billion, respectively.
The backbone of Musk’s net worth
Despite xAI’s rapid rise, Musk’s net worth is still primarily anchored by SpaceX and Tesla. SpaceX represents Musk’s single most valuable asset, with his 42% stake in the private space company estimated at roughly $336 billion.
Tesla ranks second among Musk’s holdings, as he owns about 12% of the EV maker’s common stock, which is worth approximately $307 billion.
Over the past year, Musk crossed a series of historic milestones, becoming the first person ever worth $500 billion, $600 billion, and $700 billion. He also widened his lead over the world’s second-richest individual, Larry Page, by more than $500 billion.
News
Tesla Cybercab sighting confirms one highly requested feature
The feature will likely allow the Cybercab to continue operating even in conditions when its cameras could be covered with dust, mud, or road grime.
A recent sighting of Tesla’s Cybercab prototype in Chicago appears to confirm a long-requested feature for the autonomous two-seater.
The feature will likely allow the Cybercab to continue operating even in conditions when its cameras could be covered with dust, mud, or road grime.
The Cybercab’s camera washer
The Cybercab prototype in question was sighted in Chicago, and its image was shared widely on social media. While the autonomous two-seater itself was visibly dirty, its rear camera area stood out as noticeably cleaner than the rest of the car. Traces of water were also visible on the trunk. This suggested that the Cybercab is equipped with a rear camera washer.
As noted by Model Y owner and industry watcher Sawyer Merritt, a rear camera washer is a feature many Tesla owners have requested for years, particularly in snowy or wet regions where camera obstruction can affect visibility and the performance of systems like Full Self-Driving (FSD).
While only the rear camera washer was clearly visible, the sighting raises the possibility that Tesla may equip the Cybercab’s other external cameras with similar cleaning systems. Given the vehicle’s fully autonomous design, redundant visibility safeguards would be a logical inclusion.
The Cybercab in Tesla’s autonomous world
The Cybercab is Tesla’s first purpose-built autonomous ride-hailing vehicle, and it is expected to enter production later this year. The vehicle was unveiled in October 2024 at the “We, Robot” event in Los Angeles, and it is expected to be a major growth driver for Tesla as it continues its transition toward an AI- and robotics-focused company. The Cybercab will not include a steering wheel or pedals and is intended to carry one or two passengers per trip, a decision Tesla says reflects real-world ride-hailing usage data.
The Cybercab is also expected to feature in-vehicle entertainment through its center touchscreen, wireless charging, and other rider-focused amenities. Musk has also hinted that the vehicle includes far more innovation than is immediately apparent, stating on X that “there is so much to this car that is not obvious on the surface.”
Tesla Model Y dominated China’s NEV sales in December 2025
Elon Musk’s net worth is nearing $800 billion, and it’s no small part due to xAI
