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Takata Adds $189 Million to Its Airbag Recall Fund
Takata Corp. has added another 20.1 billion yen ($189 million) to cover the costs of remedying flawed airbag inflators blamed for 11 deaths and more than 130 injuries worldwide.
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Takata Corp. has added another 20.1 billion yen ($189 million) to cover the costs of remedying flawed airbag inflators blamed for 11 deaths and more than 130 injuries worldwide.
The company booked 2.6 billion yen ($24 million) in settlements last year related to roughly 60 million Takata inflators currently being recalled by a dozen carmakers worldwide. The devices can misfire and explode when triggered in a crash.
Analysts have estimated the supplier and its carmaker customers face eventual charges of 2.6 trillion yen ($24 billion). But that total could rise.
Sources tell The Nikkei that the National Highway Traffic Safety Administration has advised vehicle manufacturers they eventually will be ordered to recall all Takata inflators in the U.S. that don’t contain a drying agent used to prevent their propellant from deteriorating. The newspaper estimates there are 100 million such devices in use worldwide.
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