South Korea Fines Tesla $2.2M On Violating False Advertisement Law

• South Korea’s antitrust body plans to press Tesla Inc (NASDAQ: TSLA) with a 2.8 billion won ($2.2 million) fine for advertising law violation.

• The automotive giant, the watchdog said, had falsely exaggerated and advertised the charging speed and driving range of its electric vehicles, Bloomberg reported.

• The Korean language website of the company changed the advertisement when the investigation against the Elon Musk-led company was started in February.

• Also Read: Elon Musk’s Rumored Tesla Successor Tom Zhu Said To Take Charge Of North America Sales

• Also, the Fair Trade Commission is likely to impose Tesla with an additional 1 million won penalty for information shortage on its cancellation policy.

• Also Read: Tesla Q4 Deliveries Fail To Clear Lowered Bar: What EV Investors Need To Know

• Price Action: TSLA shares are trading lower by 3.70% at $118.62 in premarket on the last check Tuesday.

• Photo Via Company

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