1 minute readJanuary 3, 20233:02 AM UTCLast Updated ago

A Tesla logo is seen on a wheel rim during the media day for the Shanghai auto show in Shanghai, China April 16, 2019. REUTERS/Aly Song

SEOUL, Jan 3 (Reuters) - South Korea's antitrust regulator said on Tuesday it has decided to fine Tesla Inc (TSLA.O) 2.85 billion won ($2.23 million) for false advertising related to the driving range of its electric vehicles (EVs).

The Korea Fair Trade Commission (KFTC) said the U.S. EV maker exaggerated the driving range of its cars on a single charge as well as the cost-effectiveness.

($1 = 1,276.1700 won)

Reporting by Ju-min Park and Hyunsu Yim; Editing by Himani Sarkar

Our Standards: The Thomson Reuters Trust Principles.