The European Union has imposed new tariffs on Chinese electric vehicles in an effort to protect its own automotive industry. These tariffs, ranging from 17.4% to 37.6%, are in addition to the existing 10% duty on all Chinese electric cars. This move could increase the prices of electric vehicles in the EU, affecting both Chinese and Western car manufacturers. The EU alleges that Chinese EVs have been sold at lower prices due to unfair subsidies, impacting the market. State-owned SAIC, the owner of MG, is the hardest hit with a 37.6% tariff, while BYD faces a 17.4% increase. Other Chinese firms, as well as Western car makers operating in China, will also be affected. The EU's aim is to reduce the influx of Chinese-made EVs and incentivize companies to localize production in the EU. This move could reshape the electric vehicle market in Europe, potentially benefiting European manufacturers like Renault.