The Globe and Mail's Eric Reguly, among his 2026 predictions, says that Elon Musk's Tesla had a pretty good year, but a repeat performance in 2026 is unlikely. The Globe's Europe correspondent says Tesla shares were up 9 per cent in 2025, giving the electric vehicle giant a market value of $1.5-trillion (U.S.). Mr. Trump has no love for EVs, even if his bromance with Mr. Musk seems to have been restored. The U.S. federal tax credits for EVs are on their way out, and rules to reduce or eliminate vehicle emissions are being scrapped. In the European Union, gas and diesel cars were given a new lease on life just a few weeks ago with the dilution of the 2035 zero-emissions requirement. Meanwhile, Chinese EVs are coming on strong pretty much everywhere except Canada and the United States, where 100-per-cent tariffs banish them from showrooms. They have moved up the quality chain fast and are much cheaper than Teslas. Mr. Musk's nightmare scenario -- a Chinese ban on Tesla sales on national security grounds, because the cars are equipped with all sorts of cameras and sensors -- has gone from the unimaginable to the possible.