Mexican Media Brands
Takata Rules Out Competitors as Investors
Struggling airbag supplier Takata Corp. is telling its carmaker customers it won’t consider equity bids from rivals Autoliv Inc. and ZF Friedrichshafen AG, sources tell The Nikkei.
#economics
Share
Struggling airbag supplier Takata Corp. is telling its carmaker customers it won’t consider equity bids from rivals Autoliv Inc. and ZF Friedrichshafen AG, sources tell The Nikkei.
That would please vehicle manufacturers, according to the Tokyo-based newspaper. It says carmakers would prefer to have a more balanced supply chain with at least three major sources of supply.
Takata makes about 20% of the world’s automotive airbags. But virtually all its customers have vowed to stop buying the company's inflators, which have been linked to 13 deaths and more than 100 injuries. Currently 17 manufacturers are recalling about 100 million of the devices that could explode when activated by a crash, spewing metal shards into the passenger compartment.
The company is holding meetings with its customers this week to brief them on its search for a financial backer. Several would-be investors have indicated interest, including U.S. equity firm KKR & Co., according to media reports.
RELATED CONTENT
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.