Tesla fined $2.2 million in South Korea

US automaker Tesla will be fined $2.2 million (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), compared to data published on the manufacturer’s website in Korean, the autonomy of a Tesla electric vehicle decreases by 50.5% in cold weather.

Tesla neglected to mention that “charging speed will vary significantly depending on charger type, outside temperature and battery charge level,” confirms the KFTC in a press release.

Estimates of fuel savings are also skewed by lack of information as the cost of charging an electric vehicle depends on many factors, such as charging speed and government subsidies.

South Korea’s competition authority imposed an additional one million fine for lack of information, particularly in the case of cancellation of orders for its products.

Tesla was not immediately available to respond to these statements.

On Monday, the maker announced it delivered 1.31 million electric vehicles in 2022, a record and representing a 40% jump in one year, but below its own estimates and Wall Street expectations.

After rising in 2020 and 2021, the automaker’s stock fell 65% in 2022.