South Korea Fines Tesla $2.2 Million for Alleged False Advertising
By Heejin Kim
South Korea’s antitrust watchdog will fine Tesla Inc. 2.8 billion won ($2.2 million) for alleged violations of advertising law.
Tesla falsely promoted and exaggerated the driving range and charging speed of its electric cars, as well as the estimated savings on fuel costs, South Korea’s Fair Trade Commission said in a statement Tuesday. The Elon Musk-led company changed the advertisement on its Korean-language website in February when the watchdog started an investigation.
The regulator will levy an additional penalty of 1 million won on Tesla for violations of the Electronic Commerce Act, saying the carmaker didn’t provide enough information to consumers on its cancellation policy.