South Korea fines Tesla $2.2 million for allegedly exaggerating driving selection of EVs

South Korea fines Tesla .2 million for allegedly exaggerating driving selection of EVs


A Tesla electric powered car is parked at a Tesla Supercharger station in Suwon, South Korea on Aug. 7, 2022.

SeongJoon Cho | Bloomberg | Getty Visuals

South Korea’s antitrust regulator explained it would impose a 2.85 billion won ($2.2 million) high-quality on Tesla for failing to explain to its prospects about the shorter driving selection of its electrical vehicles in lower temperatures.

The Korea Truthful Trade Fee explained that Tesla experienced exaggerated the “driving ranges of its vehicles on a single charge, their gas price tag-usefulness as opposed to gasoline cars as nicely as the efficiency of its Superchargers” on its official local site since August 2019 until lately.

The driving assortment of the U.S. EV manufacturer’s cars and trucks plunge in cold climate by up to 50.5% compared to how they are marketed on-line, the KFTC mentioned in a statement on Tuesday.

Tesla could not be immediately arrived at for comment.

On its web page, Tesla supplies wintertime driving recommendations, this kind of as pre-conditioning vehicles with external power sources, and applying its current Energy application to monitor energy usage, but does not mention the loss of driving selection in sub-zero temperatures.

Study extra about tech and crypto from CNBC Pro

In 2021, Citizens United for Buyer Sovereignty, a South Korean customer team, mentioned the driving variety of most EVs fall by up to 40% in cold temperatures when batteries need to have to be heated, with Tesla struggling the most, citing info from the country’s atmosphere ministry.

Very last calendar year, the KFTC fined German carmaker Mercedes-Benz and its Korean unit 20.2 billion won for wrong advertising and marketing tied to gasoline emissions of its diesel passenger vehicles.

Musk to Tesla staff: Don't be too bothered by stock market craziness



Source

Goldman’s David Solomon surprised by ‘benign’ market reaction to Iran war
World

Goldman’s David Solomon surprised by ‘benign’ market reaction to Iran war

David Solomon, CEO Goldman Sachs, speaking on CNBC’s Squawk Box at the World Economic Forum in Davos, Switzerland on Jan. 22nd, 2026. Oscar Molina | CNBC Goldman Sachs‘ Chairman and CEO David Solomon said financial markets have had a surprisingly “benign” reaction to the Iran war, as the conflict enters its fifth day. The Goldman […]

Read More
UAE stocks sell off as markets reopen from two-day closure after Iranian strikes
World

UAE stocks sell off as markets reopen from two-day closure after Iranian strikes

The Damac Heights real estate development, right, in the Dubai Marina in Dubai, United Arab Emirates, on Friday, Feb. 20, 2026. Bloomberg | Bloomberg | Getty Images Stocks listed in Dubai and Abu Dhabi slid on Wednesday, as UAE indexes reopened from a two-day closure that followed Iranian drone and missile strikes on the nation. […]

Read More
CNBC Daily Open: Markets take a beating despite Trump’s reassurances
World

CNBC Daily Open: Markets take a beating despite Trump’s reassurances

U.S. President Donald Trump takes questions from the media during a bilateral meeting with German Chancellor Friedrich Merz in the Oval Office of the White House on March 03, 2026 in Washington, DC. Win Mcnamee | Getty Images What you need to know today South Korea’s Kospi recorded its worst day on record, plunging 12% on […]

Read More