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U.S. President Donald Trump walks with North American Flat-Rolled Segment Senior Vice President and Chief Manufacturing Officer Scott Buckiso, Plant manager of Irvin and Fairless Plant Donald German and Mon Valley Works United Steel Corporation Vice President Kurt Barshick, as he visits U.S. Steel Corporation–Irvin Works in West Mifflin, Pennsylvania, U.S., May 30, 2025.

Leah Millis | Reuters

President Donald Trump said Thursday that the U.S. will have a “golden share” in U.S. Steel after its deal with Japan’s Nippon Steel closes.

“We have a golden stock. We have a golden share, which I control, or the president controls,” Trump told reporters in the East Room of the White House. “That gives you total control.”

Trump said Americans would have 51% ownership of U.S. Steel without providing details on how the deal is structured.

Pennsylvania Sen. Dave McCormick told CNBC last month that the U.S. will have a golden share that allows it to control a number of U.S. Steel board seats to ensure production levels aren’t cut.

“It’s a national security agreement that will be signed with the U.S. government,” McCormick told CNBC’s “Squawk Box” on May 27.

Sen. Dave McCormick on Nippon-U.S. Steel deal: A win-win situation for both sides

But the White House, U.S. Steel and Nippon have left investors and union members in the dark for weeks now on what shape the deal will take and when it will be finalized.

Trump announced what he called a “planned partnership” between the two companies on May 23. The president’s statement created confusion because U.S. Steel has said since December 2023 that it will become a wholly owned subsidiary of Nippon North America.

Trump had ordered a new review of the deal in April after President Joe Biden blocked the transaction in January. The Committee on Foreign Investment in the United States submitted a recommendation to Trump on May 21.

The president had 15-days to make a decision on the committee’s recommendation under the normal rules governing the process. But the White House, U.S. Steel and Nippon have not provided details on the status of the deal since the 15-day period ended last week.

The United Steelworkers union sent a letter to U.S. Steel last Friday demanding details about the deal.

“We have seen nothing credible regarding the nature of this so-called partnership, including whether it meaningfully differs from Nippon’s initial proposal to acquire U.S Steel and make it a wholly owned subsidiary,” the union said in a statement Friday addressed to its members.

Trump said U.S. Steel will be “controlled by the USA” during a rally at one of the company’s plants in West Mifflin, Pennsylvania on May 30. Shortly after the rally, however, the president said the deal had not been finalized yet.

“I have to approve the final deal with Nippon, and we haven’t seen that final deal yet,” Trump said.

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Trump approves U.S. Steel merger with Japan’s Nippon after companies sign national security agreement

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Trump approves U.S. Steel merger with Japan’s Nippon after companies sign national security agreement

US President Donald Trump receives a gold helmet with his name on it during a visit to US Steel – Irvin Works in West Mifflin, Pennsylvania, May 30, 2025, to mark the ‘partnership’ between Nippon Steel and US Steel.

Saul Loeb | AFP | Getty Images

President Donald Trump issued an executive order on Friday approving U.S. Steel’s merger with Japan’s Nippon Steel, after the companies signed a national security agreement with the U.S. government.

U.S. Steel and Nippon said the national security agreement will give the U.S. government a “golden share” and makes certain commitments related to governance, domestic production, and trade. The companies did not elaborate on what powers the U.S. government will wield with its golden share.

“All necessary regulatory approvals for the partnership have now been received, and the partnership is expected to be finalized promptly,” U.S. Steel and Nippon said in a statement.

The national security agreement calls for Nippon to make $11 billion in new investments by 2028, including initial spending on a greenfield project that will be completed after 2028, the companies said.

Trump said Thursday that the golden share gives the president “total control” without elaborating. Pennsylvania Sen. Dave McCormick told CNBC last month that the golden share will effectively allow the government to control a number of board seats.

Trump opposed U.S. Steel‘s controversial sale to Nippon in the runup to the 2024 president election, as Republicans and Democrats have leaned into protecting U.S. companies against foreign competitors.

But Trump started softening his opposition to the takeover after assuming office, ordering a new review of the deal in April. President Joe Biden had blocked U.S. Steel’s sale to Nippon during his final days in office, citing national security concerns, despite Japan being a close ally.

Trump has avoided calling the deal an acquisition or merger, describing it as a “partnership” in a May 23 post on his social media platform Truth Social. He insisted that U.S. Steel will remain “controlled by the USA” during a speech to workers at one of the company’s plants outside Pittsburgh on May 30.

U.S. Steel made clear it would become a “wholly owned subsidiary” of Nippon North America under the terms of the merger agreement in an April 8 filing with the Securities and Exchange Commission. Trump’s description of the deal as a “partnership” caused confusion among investors and union leadership.

The president told U.S. Steel workers that Nippon will be a “great partner.” The Trump administration is currently engaged in trade talks with Japan as investors eagerly await signs that the U.S. will strike deals with key partners that avoid steep tariffs.

Trump told the steelworkers that Nippon had agreed to keep U.S. Steel’s blast furnaces operating at full capacity for a minimum of 10 years. The president said the deal would not result in layoffs and promised there would be “no outsourcing whatsoever.” He said workers will receive a $5,000 bonus.

Trump announced that he was doubling U.S. tariffs on steel imports to 50% during his remarks to U.S. Steel workers. Those tariffs went into effect on June 4.

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This new EV charging feature could make apps and cards obsolete

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This new EV charging feature could make apps and cards obsolete

European EV charging provider Allego has launched what is says is Europe’s first rollout of the “world’s safest and most secure” Plug & Charge technology. 

The new tech is based on the open industry standard OCPP 2.0.1 and promises to make EV charging as easy as, well, plugging in your car. Forget apps, cards, and complicated sign-ins. If your EV is compatible, all you have to do is pull up and plug in.

Jean Gadrat, Allego’s CMO, said, “By removing digital friction points, apps, and cards, we give drivers the confidence to travel further and charge more conveniently. Whether in the city, on the highway, or abroad, Plug & Charge delivers the same secure, one-step charging experience.”

Here’s how Allego’s Plug & Charge works

Plug & Charge is an ISO 15118-based authentication and payment method built by Allego on OCPP 2.0.1, standardizing communication between OCPP-compliant chargers and networks.

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Once your car is enabled for Plug & Charge, the process is completely hands-off. You plug in, and your EV and the charger swap secure digital certificates to authenticate your account. There’s no need to tap an RFID card, open an app, or even press a button.

Allego’s system supports Mutual TLS encryption and certificate-based authentication, so only authorized vehicles can charge. That means no billing mistakes or fraudulent access, which has been a big concern with some older public charging setups.

Available across Europe now

Allego’s Plug & Charge functionality is at more than 5,000 fast and ultra-fast chargers across Europe, and it also works across partner networks, deploying a truly cross-network Plug & Charge experience.

It’s a future-ready platform, too. Thanks to OCPP 2.0.1, the protocol supports remote firmware updates, advanced security, and new features as they become available. So your charger can grow along with your EV.

“As new vehicle models and charging technologies emerge, OCPP 2.0.1 ensures your car always ‘speaks the same language’ as the charger,” said Manuel Trotta, Allego’s head of mobility solutions.

Allego partnered with Alpitronic, Hubject, and Ford to bring its cross-network Plug & Charge to life.

Read more: Waffle House is getting DC fast chargers – and it’s a genius move


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The Kia PV5 is a real-life Transformer: Here’s our first look at it as an electric truck

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The Kia PV5 is a real-life Transformer: Here's our first look at it as an electric truck

Kia is looking to shake things up with its new custom-tailored Platform Beyond Vehicles (PBVs). The PV5, Kia’s first electric van based on the platform, is already showing how versatile it is. After the PV5 was spotted for the first time with an open bed, Kia looks about ready to drop an electric truck variant.

Is Kia launching an electric truck PV5 variant?

At the 2024 Consumer Electronics Show (CES), Kia revealed its PBV strategy for the first time. The vehicles are designed as “total mobility solutions” that combine fit-for-purpose EVs with Hyundai’s latest software and tech.

Kia’s PBVs are based on Hyundai’s new ultra-flexible E-GMP.S EV platform, which can be custom-tailored for different uses. The first EV based on the platform, the PV5, launched earlier this year in the UK in two variations, Cargo and Passenger.

The Passenger model is fairly self-explanatory as a personal, everyday van, while the Cargo version is designed for commercial use.

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Kia said more variants were on the way, including a refrigerated truck, chassis cab, open-bed, luxury “Prime” passenger, and sliding truck models.

The open-bed variant was recently captured driving in Korea, giving us our first look at the Kia PV5 as an electric truck.

Kia-PV5-electric-truck
Kia PV5 open bed teaser (Source: Kia)

Although brief, the video from HealerTV, taken as the vehicle was driving by, reveals a few new details. It’s our closest look at the open-bed variant so far.

Like other PV5 variants, it appears to be the same up front. In fact, it’s almost identical to the first teaser Kia showed.

Kia PV5 open bed electric truck (Source: HealerTV)

It’s hard to tell from a video, but the reporter mentioned the electric truck “seemed like it was just the right size.” Since the PV5 Passenger is 4,695 mm in length, 1,895 mm in width, and 1,899 mm in height, we can expect it to be about the same size. To give you a better idea, it’s slightly smaller than the Volkswagen ID.Buzz SWB.

More variants on the way

The electric truck, or open-bed variant, comes after we saw the PV5 “Conversion,” which will feature new models, including a light camper and a camper van.

We got a preview of the camper van after Kia revealed two new “Spielraum” PV5 concepts, including one with a refrigerator, microwave oven, and even a wine cellar. And then we got a look at the PV5 “WKNDR,” an “adventure-ready” electric van concept. Kia’s electric van even has a wheelchair-friendly version, the PV5 WAV.

Kia-electric-camper-van
Kia PV5 Spielraum concept (Source: Kia)

What’s next? Kia plans to launch a full range of electric vans. Next up will be the larger PV7 in 2027, followed by the PV9 in 2029. There’s also a smaller PV1, expected to arrive in late 2026 or early 2027.

In the future, Kia plans ot launch a Robotaxi model through a collaboration with Motional. All PBV models will be built at Kia’s Hwaseong EVO plant in South Korea. The facility can build up to 150,000 vehicles annually.

Kia-PV5-electric-truck
Kia PBV models (Source: Kia)

Kia said its goal is to “design PBVs that are simple and intuitive to operate and engage with, regardless of where, when or how they are used.” In other words, Kia wants to make your life easier, “Whether the purpose of the vehicle is to transport people, move goods, or meet logistics or personal mobility needs.”

In the UK, the PV5 Passenger and Cargo models start at £32,995 ($44,000) and £27,645 ($37,000), respectively.

It’s available with two battery pack options: 51.5 kWh or 71.2 kWh, offering WLTP ranges of 179 miles and 249 miles, respectively. The Cargo version gets slightly more range with 181 miles or 247 miles, respectively.

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