South Korean Regulator Fines Tesla for Misleading Customers
03 January 2023 - 8:12PM
Dow Jones News
By Kwanwoo Jun
Tesla Inc. has been fined 2.85 billion won ($2.2 million) by a
South Korean regulator for allegedly misleading customers about its
electric vehicles' driving ranges.
South Korea's antitrust watchdog said Tuesday that the U.S. EV
maker's Korean units exaggerated the driving range of its vehicles
and falsely promoted their estimated fuel-cost savings in local
online advertisements.
The Korea Fair Trade Commission also accused Tesla of unfairly
charging a deposit to frustrate online-purchase cancellations.
Tesla was told to correct the marketing practice, the commission
added.
Tesla wasn't immediately available for comment on the South
Korean penalty action.
The commission said Tesla recently altered its misleading
Korean-language advertisements, which had been online since
2019.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com
(END) Dow Jones Newswires
January 03, 2023 03:57 ET (08:57 GMT)
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