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Think the Cybertruck is strange? The Morgan XP-1 would like a word.

The Americanization of electric cars is in full swing, with every U.S. automaker doing what it does best: building ever larger, heavier, and more spacious vehicles. So it's refreshing to see Stellantis, the parent company of Fiat, bringing its first new EV to the States in the form of a reborn 500e.

The 500e was beloved when it first landed a decade ago, providing a quick, ultra-compact hatchback that fit the needs of most city and suburban drivers. And given there weren't exactly a lot of small, inexpensive EV options at the time (and incentives were plentiful), you still see them on the road today.
For the new model, Fiat addressed this week some of the issues of its predecessor, with a boost in both power and range thanks to a 42 kWh battery pack that wrings out 149 miles on a charge. The $34,000 price tag may not make it the bargain it used to be, particularly compared to more spacious and long-range options like the Tesla Model 3, which, unlike the 500e, is also eligible for a federal tax credit. But Fiat includes a free Level 2 home charger in the deal, and its 3,000-pound weight and diminutive size make a compelling case for the average commuter.
Plus, when it’s trundling along at low speeds, the 500e's Acoustic Vehicle Alert System (that low hum you hear that's required on EVs) plays a little Italian concerto, "The Sound of 500."
If that's not enough personality for you, one of the most storied British sports car brands, Morgan, unveiled Wednesday an electric update to its iconic three-wheeler. With a 33kWh battery pack mounted in the front and an electric motor putting out 134 horsepower to the rear wheel — singular — the XP-1 is a glimpse of the ultimate electric urban runabout.
Meet XP-1, Morgan's Electric Experimental Prototypeyoutu.be
Completely developed in house by Morgan, it's the company's first serious foray into electric motoring, with an aim to get about 100 miles on a charge. At just over 1,500 pounds, the XP-1 is a scant 130 pounds heavier than its internal combustion counterpart, providing the kind of performance and raw driving experience Morgan is known for. Granted, the lack of a roof limits its four-season functionality, but no one has ever accused a Morgan of being sensible.
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The administration has already lost once in court wielding the same argument against Revolution Wind.
The Trump administration says it has halted all construction on offshore wind projects, citing “national security concerns.”
Interior Secretary Doug Burgum announced the move Monday morning on X: “Due to national security concerns identified by @DeptofWar, @Interior is PAUSING leases for 5 expensive, unreliable, heavily subsidized offshore wind farms!”
There are only five offshore wind projects currently under construction in U.S. waters: Vineyard Wind, Revolution Wind, Coastal Virginia Offshore Wind, Sunrise Wind, and Empire Wind. Burgum confirmed to Fox Business that these were the five projects whose leases have been targeted for termination, and that notices were being sent to the project developers today to halt work.
“The Department of War has come back conclusively that the issues related to these large offshore wind programs create radar interference, create genuine risk for the U.S., particularly related to where they are in proximity to our East Coast population centers,” Burgum told the network’s Maria Bartiromo.
David Schoetz, a spokesperson for Empire Wind's developer Equinor, told me the company is “aware of the stop work order announced by the Department of Interior,” and that the company is “evaluating the order and seeking further information from the federal government.” Schoetz added that we should ”expect more to come” from the company.
This action takes a kernel of truth — that offshore wind can cause interference with radar communication — and blows it up well beyond its apparent implications. Interior has cited reports from the military they claim are classified, so we can’t say what fresh findings forced defense officials to undermine many years of work to ensure that offshore wind development does not impede security or the readiness of U.S. armed forces.
The Trump administration has already lost once in court with a national security argument, when it tried to halt work on Revolution Wind citing these same concerns. The government’s case fell apart after project developer Orsted presented clear evidence that the government had already considered radar issues and found no reason to oppose the project. The timing here is also eyebrow-raising, as the Army Corps of Engineers — a subagency within the military — approved continued construction on Vineyard Wind just three days ago.
It’s also important to remember where this anti-offshore wind strategy came from. In January, I broke news that a coalition of activists fighting against offshore wind had submitted a blueprint to Trump officials laying out potential ways to stop projects, including those already under construction. Among these was a plan to cancel leases by citing national security concerns.
In a press release, the American Clean Power Association took the Trump administration to task for “taking more electricity off the grid while telling thousands of American workers to leave the job site.”
“The Trump Administration’s decision to stop construction of five major energy projects demonstrates that they either don’t understand the affordability crises facing millions of Americans or simply don't care,” the group said. “On the first day of this Administration, the President announced an energy emergency. Over the last year, they worked to create one with electricity prices rising faster under President Trump than any President in recent history."
What comes next will be legal, political and highly dramatic. In the immediate term, it’s likely that after the previous Revolution victory, companies will take the Trump administration to court seeking preliminary injunctions as soon as complaints can be drawn up. Democrats in Congress are almost certainly going to take this action into permitting reform talks, too, after squabbling over offshore wind nearly derailed a House bill revising the National Environmental Policy Act last week.
Heatmap has reached out to all of the offshore wind developers affected, and we’ll update this story if and when we hear back from them.
Editor’s note: This story has been updated to reflect comment from Equinor and ACP.
The SPEED Act faces near-certain opposition in the Senate.
The House of Representatives has approved the SPEED Act, a bill that would bring sweeping changes to the nation’s environmental review process. It passed Thursday afternoon on a bipartisan vote of 221 to 196, with 11 Democrats in favor and just one Republican, Brian Fitzpatrick of Pennsylvania, against.
Thursday’s vote followed a late change to the bill on Wednesday that would safeguard the Trump administration’s recent actions to pull already-approved permits from offshore wind farms and other renewable energy projects.
Prior to that tweak, the bill would have limited the Trump administration’s ability to alter or revoke a federal permitting decision after the fact. The new version, adopted to secure votes from Republican representatives in Maryland and New Jersey, carves out an exception for agency actions taken between January 20 and the day the law takes effect.
"Last-minute changes to the SPEED Act undercut the bill’s intent to provide certainty to American business,” Rich Powell, the CEO of the Clean Energy Buyers Association said in a press release after the bill passed. “We hope the Senate will now take this language and strengthen those protections for existing and new projects needed to maintain grid reliability and meet growing electricity demand.”
At a high level, the SPEED Act would hasten federal permitting by restricting the evidence that federal agencies consider during the environmental review process and limiting the amount of time a court can deliberate over challenges to federal decisions. It would also disallow courts from vacating permits or issuing injunctions against projects if it finds that a federal agency violated NEPA. The changes would apply to permits of all kinds, including for oil and gas drilling, solar and wind farms, power lines, and data centers.
Environmental groups were generally against the bill. “Far from helping build the clean energy projects of the future, the SPEED Act will only result in an abundance of contaminated air and water, dirty projects, and chronic illnesses with fewer opportunities to hold polluters accountable in court,” Stephen Sciama, senior legislative council for Earthjustice Action, said in a press release on Thursday.
But proponents, such as the conservative energy group Clearpath Action, argue the bill will enable American industry to “invest and build with confidence” by cutting unnecessary red tape, improving coordination across agencies, and setting clearer rules and timelines for judicial review.
In House floor testimony on Thursday morning, Republican Bruce Westerman of Arkansas, the SPEED Act’s lead sponsor, said the bill had the backing of more than 375 industry groups and businesses, and bipartisan support in both the House and Senate. “The SPEED act will deliver the energy and infrastructure Americans need,” he said.
The bill lost at least one significant industry supporter after Wednesday’s changes, however. The American Clean Power Association, which had previously joined the American Petroleum Institute and others in a letter urging the House to pass the bill, withdrew its support, calling the new language a “poison pill” that “injects permit uncertainty, and creates a pathway for fully permitted projects to be canceled even after the Act’s passage.”
The Solar Energy Industries Association also denounced the bill’s passage.
Contrary to Westerman’s assertion, the bill’s fate in the Senate is far from certain. “Even if the House passes this bill today, it is going nowhere in the Senate,” Democratic Representative Jared Huffman of California asserted on the floor on Thursday. “What a missed opportunity to tackle a serious issue that Democrats were very interested in working on in good faith.”
Some Senate Democrats came out in opposition of the bill even before the late-breaking amendments. Senators Brian Schatz of Hawaii, Sheldon Whitehouse of Rhode Island, and Martin Heinrich of New Mexico told my colleague Jael Holzman that the bill did not do enough to ensure the buildout of transmission and affordable clean energy, but that they “will continue working to pass comprehensive permitting reform that takes real steps to bring down electricity costs.”
Some see getting the SPEED Act through the House as merely a starting point for a more comprehensive and fair permitting deal. Democratic Representative Adam Gray of California told Politico’s Joshua Siegel Thursday that he was voting in favor of the bill despite the last minute changes due to his faith that the Senate will hammer out a version that provides developers of all energy stripes the certainty they need.
His Californian colleague Representative Scott Peters, on the other hand, voted against the bill, but committed to getting a deal done with the Senate. “We need to get permitting reform done in this Congress,” he said on the House floor Thursday.
The market is reeling from a trio of worrisome data center announcements.
The AI industry coughed and the power industry is getting a cold.
The S&P 500 hit a record high on Thursday afternoon, but in the cold light of Friday, several artificial intelligence-related companies are feeling a chill. A trio of stories in the data center and semiconductor industry revealed dented market optimism, driving the tech-heavy NASDAQ 100 down almost 2% in Friday afternoon trading, and several energy-related stocks are down even more.
Here’s what’s happening:
Taken together, the three stories look like an AI slowdown, at least compared to the most optimistic forecasts for growth. If so, expectations of how much power these data centers need will also have to come down a bit. That has led to notable stock dips for companies across the power sector, especially independent power producers that own power plants, many of whose shares have risen sharply in the past year or two.
Shares in NRG were down around 4.5% on the day on Friday afternoon; nuclear-heavy Constellation Energy was down over 6%; Talen Energy, which owns a portfolio of nuclear and fossil fuel plants, was down almost 3% and Vistra was down 2%. Shares in GE Vernova, which is expanding its gas turbine manufacturing capacity to meet high expected demand for power, were down over 3.5%.
It’s not just traditional power companies that are catching this AI chill — renewables are shivering, as well. American solar manufacturer First Solar is down over 5%, while solar manufacturing and development company Canadian Solar is down over almost 9%.
Shares of Blue Owl, the investment firm that is helping to fund the big tech data center buildout, were down almost 4%.
The fates of all these companies are deeply intertwined. As Heatmap contributor Advait Arun wrote recently, ”The commercial potential of next-generation energy technologies such as advanced nuclear, batteries, and grid-enhancing applications now hinge on the speed and scale of the AI buildout.” Many AI-related companies are either invested in or lend to each other, meaning that a stumble that looks small initially could quickly cascade.
The power industry has seen these types of AI-optimism hiccups before, however. In January, several power companies swooned after Chinese AI company DeepSeek released an open source, compute-efficient large language model comparable to the most advanced models developed by U.S. labs.
Constellation’s stock price, for example, fell as much as 20% in response to the “DeepSeek Moment,” but are up over 45% this year, even factoring in today’s fall. GE Vernova shares have doubled in value this year.
So it looks like the power sector will still have something to celebrate at the end of this year, even if the celebrations are slightly less warm than they might have been.