Tesla fined $2.2 mn in S Korea for alleged violations of advertising law

South Korea’s antitrust watchdog will levy a fine of 2.8 billion won ($2.2 million) on Tesla Inc. for alleged violations of the nation’s advertisement law, dealing a setback to the US carmaker that’s seeking to expand its presence in the Asian country. 
 

Tesla falsely promoted and exaggerated the driving range and charging speed of its electric cars as well as the estimated savings on fuel costs by using its vehicles, according to a statement from South Korea’s Fair Trade Commission Tuesday. The Elon Musk-led company changed that advertisement on its Korean-language website last February when the watchdog initiated an investigation.