South Korea Fines Tesla $2.2 Mln For False Advertising

(RTTNews) - South Korea's antitrust regulator has reportedly slapped a 2.85 billion won or $2.2 million fine on Tesla (TSLA), for overstating its car's driving range in low temperatures.

The KFTC said that Tesla had exaggerated the "driving ranges of its cars on a single charge, their fuel cost-effectiveness compared to gasoline vehicles as well as the performance of its Superchargers" on its official local website since August 2019 until recently.

The driving range of the U.S. EV manufacturer's cars plunge in cold weather by up to 50.5% versus how they are advertised online, the KFTC said.

The carmaker changed the advertising on its Korean-language website in February 2022, after the KFTC launched an investigation, according to Bloomberg.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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