BYD Seal U
BYD has rapidly become one of the world's largest EV companies, briefly overtaking Tesla earlier this year.
  • The EU has imposed tariffs of up to 38.1% on Chinese EVs. 
  • Joe Biden also launched a crackdown on Chinese EVs last month, hitting them with a 100% tax.
  • Trade barriers come amid fears a wave of cheap Chinese brands could take over Western markets. 

The EU is cracking down on China's EV companies.

The bloc will impose tariffs as high as 38.1% on EVs imported from China to Europe from next month, the European Commission said on Wednesday.