Tesla has been fined $2.2 million (2.8 billion won) by the antitrust regulator of South Korea for overstating the range of their electric vehicles (EVs), which have proven to have markedly shorter ranges in cold weather.

South Korea’s Fair Trade Commission said in a statement released Tuesday that the Electric Vehicle maker had promoted falsely overstated and exaggerated driving range numbers and charging speeds of its EVs, as well as the fuel-cost savings estimates for its vehicles.

The watchdog group pointed out that the driving range of Tesla Electric Vehicles can plunge in cold weather to about half of the advertised distances, as the battery’s ability to produce energy is greatly diminished in the cold.

Although Tesla includes winter driving tips on its website, including the advice to precondition its vehicles with an external power source, and to use the company’s app to monitor its vehicle’s energy consumption, the website never mentions the loss of vehicular range that occurs in sub-zero temperatures due to the loss of the battery’s ability to generate power.

When the regulator first launched its probe last February, the Electric carmaker changed the advertisement on its Korean-language website to reflect the loss of range.

Tesla has sold 45,812 cars in South Korea as of the end of September 2022, after opening an office there in 2015, according to data from the nation’s transport ministry. By those numbers, Tesla is the third biggest green vehicle brand in the nation, with a local market share of 13%, putting it behind local carmakers Hyundai and Kia.

In the US Tesla suffered a 12% drop in share price Tuesday, after missing delivery consensus estimates in its latest report. The stock touched its lowest level since August of 2020 at one point on Tuesday. JPMorgan analyst Ryan Brinkman slashed his profit estimates and price target on Tesla from $150 to $125 after the miss on deliveries.