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

South Korea’s antitrust body plans to press Tesla Inc 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.
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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.
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