European Union's newly approved tariffs on Chinese electric vehicles will not immediately impact the prices of BYD (HKG:1211, SHE:002594) and BAIC Motors (HKG:1958), Yicai reported Tuesday, citing Chinese manufacturers.

SAIC's MG Motors said the EU vote will not affect the price of its cars sold in France this year, while BYD said the prices of its EVs in Europe, like Italy, will remain the same until the end of 2024, according to the report.

The EU on Oct. 4 approved an additional levy of 17% on BYD, 18.8% on Geely, and 35.3% on SAIC's new energy vehicles, the report said.

US car giant Tesla's China-made vehicles will be impacted the least, with 7.8%, Yicai reported.

China is currently in talks with the EU over the tariff, the publication said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)