The Globe and Mail reports in its Saturday edition that carmakers are going back to the future, embracing gasoline engines at the expense of batteries. The Globe's Eric Reguly writes that Porsche this week became the latest carmaker to roll back its EV strategy. The company is killing plans for a new electric SUV and booked an impairment charge of €1.8-billion related to development costs. Porsche competitor Ferrari also has come to the conclusion that EVs are not ready for prime time. For the rest of the market, EVs of almost every size and shape are simply too expensive. And now Donald Trump has killed the federal $7,500 (U.S.) EV tax credit. Ontario could be one of the biggest victims of the flagging fortunes of the EV industry. In 2024, Justin Trudeau, who was prime minister at the time, bragged that since 2020, Canada, mostly Ontario, had attracted $46-billion of investments across the EV supply chain, including battery-component plants. Now look at what is happening. Some EV and battery plant investments are being postponed or vanishing as EV sales head south and Mr. Trump's trade war against Canada goes from unpleasant to nasty. Mr. Reguly says that Canada, especially Ontario, may have bet wrong on battery cars.