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Posts Tagged ‘Takata airbag problems’

Takata Victims Pursuing Legal Action Against Five Automakers

Honda, Nissan, Toyota, BMW and Ford all named in lawsuits.

by on Feb.28, 2017

Takata victims file claiming five automakers knew about airbag defect, but used them anyway.

As Takata pleaded guilty and agreed to pay a $1 billion in restitution, compensation and fines, one issue remains in doubt: What role did the automakers play?

If you listen to the car companies, they are victims as well. In fact, the settlement agreement shows them receiving $825 million due to Takata’s carelessness.

Product News!

The airbag inflators can explode with too much force in certain conditions, hurling shrapnel into the vehicle cabin. The result is 16 deaths and nearly 200 injuries worldwide. It forced the largest recall in U.S. history: 42 million vehicles. (more…)

Takata CEO Outlines Plans to Resign

“I want to pass the baton.”

by on Jun.28, 2016

Takata CEO Shigehisa Takada has apologized for the airbag scandal but will soon step down.

The CEO of safety systems supplier Takata plans to resign, a move that could help the tarnished Japanese manufacturer raise the capital necessary for its survival.

Takata CEO Shigehisa Takada has come under intense fire in the wake of revelations about the company’s airbag systems, which have been linked to the deaths of at least 14 people worldwide, with more than 100 other injured. That has triggered the largest recall in U.S. automotive history, so far affecting more than 40 million vehicles.

Safety News!

Takata has been struggling to supply enough new airbag inflators to replace those under recall, and its cash crunch has made it difficult to ramp up production. The company has been looking at restructuring opportunities that might include finding a buyer. (more…)