General Motors and a few other companies make as much as 40 percent of their North American cars and trucks in Canada and Mexico, leaving them vulnerable to tariffs.

The electric car company run by Elon Musk is facing increasing competition, but investors have focused mostly on the prospects for Tesla’s self-driving technology.

More car buyers are expected to eventually pick battery-powered cars and trucks as prices fall and technology improves, even if Biden-era incentives disappear.