Japan’s Nippon Steel is expected to close its acquisition of U.S. Steel for $55 per share, sources familiar with the matter told CNBC’s David Faber.
President Donald Trump cleared Nippon’s bid for U.S. Steel on Friday, referring to the deal as a “partnership.” Trump said Nippon will invest $14 billion over the next 14 months. U.S. Steel’s headquarters will remain in Pittsburgh, the president said.
U.S. Steel shares were up more than 1% on Tuesday. The $55 per share bid for U.S. Steel is the offer that Nippon originally made for the company before the deal was blocked in January.
President Joe Biden had blocked Nippon’s bid for U.S. Steel on national security grounds, arguing that the deal will potentially jeopardize critical supply chains. But Trump ordered a new review of the proposed acquisition in April, despite his previous opposition to Nippon acquiring U.S. Steel.
The United Steelworkers union had opposed the Nippon’s bid to acquire U.S. Steel. USW President David McCall said Friday that the union “cannot speculate about the impact” of Trump’s announcement “without more information.
“Our concern remains that Nippon, a foreign corporation with a long and proven track record of violating our trade laws, will further erode domestic steelmaking capacity and jeopardize thousands of good, union jobs,” McCall said in a statement.
Trump told reporters on Sunday that the deal is an “investment, it’s a partial ownership, but it will be controlled by the USA.” Pennsylvania Senator Dave McCormick told CNBC on Tuesday that U.S. Steel will have an American CEO and a majority of its board members will be from the U.S.
“It’s a national security agreement that will be signed with the U.S. government,” McCormick told CNBC’s “Squawk Box.” “There’ll be a golden share that will essentially require U.S. government approval of a number of the board members and that will allow the United States to ensure production levels aren’t cut.”
The $14 billion that Nippon will invest includes $2.4 billion that will go to U.S. Steel’s operations at Mon Valley outside Pittsburgh, McCormick said. The deal will save 10,000 jobs in Pennsylvania and add another 10,000 jobs in the building trades to add another arc furnace, the senator said.
When asked what Nippon gets from the deal, McCormick said the Japanese steelmaker will “have certainly members of the board and this will be part of their overall corporate structure.”
“They wanted an opportunity to get access to the U.S. market — this allowed them to do so and get the economic benefit of that,” McCormick said of Nippon. “They’ve negotiated it, it was their proposal.”
Trump said Friday he will hold a rally at U.S. Steel in Pittsburgh on May 30.
Zoox has announced a partnership with Resorts World Las Vegas, the first official agreement between a robotaxi provider and a Vegas resort property.
Zoox remains one of the more exciting autonomous rideshare developers we follow on Electrek. It may not be the largest or most expanded robotaxi company, but Zoox has something operating on roads that none of its competitors have been able to do—a purpose-built vehicle.
Earlier this month, Zoox announced an expansion of its testing fleet (not the purpose-built robotaxis) into its seventh US city, Atlanta. The expansion now includes Austin, Seattle, Miami, Los Angeles, and the San Francisco Bay Area.
In the summer of 2023, Zoox expanded its robotaxi operations to Las Vegas, beginning on a one-mile loop at speeds up to 35 mph. By March 2024, Zoox has expanded its robotaxi geofence to five miles from Zoox’s headquarters to the south end of the strip, with multiple routes available in between, at speeds up to 45 mph.
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Zoox also bolstered its robotaxi perception system for inclement weather and adjustments between day and night on the road. This expanded operational hours, including nighttime and continued service under light rain and damp road conditions.
At that time, Zoox said it was closer than ever to commercial operations and paid customer rides. It’s still not there yet in Las Vegas, but Zoox has announced an interesting new partnership, which should help get more passengers on the strip into its robotaxis while gathering additional feedback
Select riders can hail a free Zoox robotaxi in Las Vegas
Resorts World Las Vegas announced Zoox as its first-ever official robotaxi partner. This partnership entails a dedicated and branded pickup and drop-off location for autonomous ride-hailing service at the resort and an “experiential activation” within the resort.
After becoming the first company to operate a purpose-built robotaxi on public roads in Las Vegas, Zoox is now the first of such rideshare providers to sign an official partnership with a Vegas resort. Zoox hopes its unique four passenger robotaxi with no steering wheel or pedals will add to the overall experience of Resorts World guests wanting to explore other parts of the strip. Per Zoox’s chief product officer Michael White:
Zoox and Resorts World share a joint focus on creating superior customer experiences. When visitors ride with Zoox, they’ll find the service offers an extension of the signature hospitality they’ve come to expect from Resorts World’s collection of premium brands, including Hilton, Conrad, and Crockfords. This partnership will allow us to enhance the overall guest journey, adding to their Las Vegas experience with personalized mobility.
To that note, Resorts World Las Vegas president and CFO Carlos Castro shared a similar sentiment about Zoox’s technology and how it can add to the world of premium hospitality, much of which Vegas has become renowned for:
At Resorts World, we seek partners that align with our vision of what the future of guest experiences can be. This collaboration with Zoox reflects our commitment to integrating technology solutions that elevate our service offerings and enhance how guests experience our property. By welcoming Zoox robotaxis into our transportation ecosystem, we’re creating new possibilities for our guests, while reinforcing Las Vegas’s position as a global innovation hub.
There is a catch.
Since Zoox has not yet been commercially launched for paid public rides in Las Vegas, interested riders must sign up for the company’s Explorer program. This program invites select riders to experience the Zoox robotaxi for free and provide feedback.
The company plans to open its robotaxi service to the general public in Las Vegas later this year.
I’m going to try to get on the Zoox Explorer list and test one of these rides out in Las Vegas… you know… for research purposes.
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Texas is No. 2 in the US for wind and solar capacity, but the Texas Senate passed a bill that aims to kneecap clean energy with an industry-killing review process. Here’s what happened in the House.
May 28, 2025: The Senate passed SB 819, which would have created prohibitive new restrictions on wind and solar energy development that didn’t apply to any other form of energy. But it failed to meet deadlines that would have allowed it to progress in the House, so it’s now dead in the water. (Good riddance.)
SB 388 and SB 715, also anti-renewable, also died in the House of Representatives for the same reason. SB 388 would have required 50% of new energy generation to be “dispatchable,” but the bill unfairly excluded battery storage as a form of dispatchable energy. SB 715 wanted to require existing renewable energy installations to install backup energy.
Adrian Shelley, Texas director of Public Citizen, said, “The failure of these three bills is a victory for ratepayers. It is also a tacit recognition by a legislature that is too friendly to fossil fuels that renewable energy sources are an indispensable part of powering the state.”
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April 15, 2025: The Texas Senate today passed SB 819, which creates new restrictions on the development of wind and solar energy under the guise of “protecting” wildlife. The restrictions don’t apply to any other forms of energy.
Texas uses an extraordinary amount of power, and renewables play a big part in supplying that power. The Texas Tribunereported in March that “ERCOT [the Texas grid] predicts that Texas’ energy demand will nearly double by 2030, with power supply projected to fall short of peak demand in a worst-case scenario beginning in summer 2026.” That’s because of extreme weather, population growth, and crypto-mining facilities.
As of February, Texas increased its energy supply by 35% over the last four years, and 92% of that supply came from solar, wind, and battery storage.
Solar is the largest source of energy generating capacity that has been added to the Texas grid. That’s because it’s cost-effective and it can be deployed quickly. So if new solar projects are kneecapped, power demand will outstrip supply in the Lone Star State.
Daniel Giese, Solar Energy Industries Association (SEIA)’s Texas director of state affairs, stated after the Senate’s vote, “With energy demand rising fast, Texas needs every megawatt it can generate to keep the lights on and our economy strong. We cannot afford to turn away from the pro-energy and pro-business policies that made the Lone Star State the energy capital, but that’s exactly what SB 819 does. We urge the Texas House to reject this bill.”
Less clean energy would also jack up electricity bills for Texans, and rural areas would lose billions in landowner revenue and tax payments. Every time a wind farm or solar farm is installed on rural land, it brings a lot of money to the community that surrounds it. A January report estimated that existing and planned solar, wind, and battery storage projects will contribute $20 billion in local tax revenue and $29.5 billion in landowner payments.
What’s especially baffling about this bill is that it flies in the face of a core Texas value – keeping the government out of private property decisions – yet it does precisely the opposite.
Environment Texas executive director Luke Metzger issued the following response: ‘By making it much more difficult to build wind and solar energy in Texas, this bill threatens to increase pollution, increase blackouts and increase our electric bills.
“Under the guise of helping land and wildlife, SB 819 would create a discriminatory and capricious permitting standard that could grind renewable energy development to a halt.
“We urge the House of Representatives to reject this bill and instead support policies that promote a cleaner, more sustainable energy future for all Texans.”
It will come as no surprise to regular readers that I find this bill ludicrously masochistic. Let me know your thoughts in the comments below, and please keep it civil.
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Chevy is making it more affordable to drive off in one of its new EVs. With new incentives, you can now snag a 2025 Chevy Silverado EV for much less than a Tesla Cybertruck. The Equinox and Blazer EVs are also on sale this month.
Chevy EVs are getting more affordable
With the electric Silverado, Equinox, and Blazer rolling out, Chevy is now the fastest-growing EV brand in the US.
In the first quarter, GM sold 10,329 Chevy Equinox, 6,187 Blazer, and 2,383 Silverado EVs in the US. Arguably, the biggest reason behind the brand’s success is affordability.
Starting at just $34,995, GM calls the 2025 Chevy Equinox EV “America’s most affordable 315+ range EV. The base LT FWD model has an EPA-estimated range of 319 miles, more than enough for your typical daily commute.
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Chevy launched new deals ahead of Memorial Day, making its EVs even more affordable. After cutting interest rates to 0% APR, Chevy’s electric pickup is significantly cheaper to finance than the Tesla Cybertruck.
The 2025 Chevy Silverado EV is now listed at 0% APR for 60 months, plus you can still take advantage of the potential $7,500 federal EV tax credit.
Chevy Silverado EV LT (Source: Chevrolet)
According to CarsDirect, the rate cut on a 5-year loan could translate to almost $5,300 in savings. The Cybertruck has a 5-year interest rate of 5.49%.
Chevy is offering 0% APR on all electric vehicles, including the 2025 Equinox and Blazer EVs. Both are also eligible for the $7,500 EV tax credit.
2025 Chevy Equinox EV LT (Source: GM)
The 2025 Equinox EV FWD LT remains one of the best deals right now, with monthly leases starting at just $289. The 2LT model may be an even better deal at just $299 per month.
Chevy is offering leases as low as $399 per month on the 2024 Blazer EV and $849 per month for the 2024 Silverado EV Crew 4WD RST.
Thinking about trying out Chevy’s new EV lineup for yourself? We’ll help you get started. Check out our links below to find Silverado, Equinox, and Blazer EVs at a dealer near you.
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