The EU slapped massive tariff hikes on China's EV giants. Investors don't seem to care.

• The European Commission announced additional tariffs on Chinese electric vehicle imports on Wednesday.
• The tariffs follow a probe into Chinese subsidies and include up to 48.1% in duties.
• Stocks of China's EV makers surged despite the tariffs, driven by perceived manageability.

The European Commission, or EC, announced it will be slapping hefty tariffs on China's electric vehicle imports — but most investors seem unfazed.

On Wednesday, the EC said it will impose tariffs of up to 38.1% on Chinese EV imports from next month — on top of existing 10% duties.