$2.2 million fine for Tesla in South Korea

US automaker Tesla will be fined 2.

$2.2 million fine for Tesla in South Korea

US automaker Tesla will be fined 2.2 million dollars (2.85 billion won) for false advertising in South Korea, the country's competition authority announced on Tuesday.

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According to the Korean Commission in charge of competition (KFTC), the autonomy of a Tesla electric vehicle can drop by 50.5% in cold weather, compared to data that the manufacturer has published on a website in Korean.

Tesla also omitted to specify that “the charging speed varies significantly depending on the type of charger, the outside temperature and the level of charge of the battery”, affirms the KFTC in a press release.

Estimates of fuel savings are also distorted by the lack of information on the fact that the cost of charging the electric vehicle depends on several factors, such as the charging speed and the government's aid policy, adds the commission .

The South Korean competition authority has also imposed an additional fine of one million for the lack of information, in particular in the event of cancellation of orders for its products.

Tesla was not immediately available to respond to these announcements.

On Monday, the manufacturer announced that it had delivered 1.31 million electric vehicles in 2022, which represents a record and a jump of 40% over one year but remains below its own forecasts and Wall Street expectations.

After soaring in 2020 and 2021, the automaker's stock plunged 65% in 2022.

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