Automaker Ford Motor Co. has agreed to a $299.1 million settlement in the multidistrict Takata airbag defects litigation. Nearly 70 million airbags from more than nearly 20 different auto manufacturers worldwide have been recalled due to dangerous flaws in vehicle airbags manufactured by Japan-based Takata Corporation.
Automakers and Key Safety Systems (the company acquiring Takata’s viable business assets) have agreed upon a deal that will end the bankruptcy for Takata Corp’s U.S. unit, TK Holdings Inc. The agreement includes a trust that will be established to pay compensation for those injured or killed by defective Takata airbags. Compensation will vary based
1.2 Million New Vehicles Added to Ongoing Recall in Face of Airbag Explosion Threat The threat of dangerous Takata airbags have led to yet another round of vehicle recalls, as U.S. safety regulators have named more than 1.2 million additional vehicle models across 14 different automakers to the Takata airbag recall list. The newest round
Second Takata Airbag Death Confirmed in 2006 Ford Ranger Pickup Ford Motor Co has alerted owners and lessees of 2006 Ford Ranger pickup trucks to immediately stop driving their vehicles in the wake of a second confirmed 2006 Ranger death seen as having been caused by an exploding defective Takata airbag inflator. Ford is warning