Tesla agreed to pay $1.5 million in compensation to Model S owners who suffered from a temporary reduction in battery voltage. This demonstrates that the company is able to admit its mistakes and always seek to be better in the future.
Tesla policy is never to give in to false claims, even if we would lose, and never to fight true claims, even if we would win.— Elon Musk (@elonmusk) July 31, 2021
The ability to admit your mistakes is a great virtue and great practice. Not everyone is able to step back, accept their mistakes and correct them. The ability to admit mistakes is a treasured quality not only for individuals but also for companies. While this may seem like a sign of weakness to some, in reality, admitting mistakes shows strength and a willingness to improve. All people make mistakes sometimes, and companies are no exception, but not everyone is able to recognize this and take appropriate action to become better in the future. Tesla showed its strength and admitted its mistake.
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