Japanese airbag maker Takata files for bankruptcy in US and Japan, gets US sponsor
7 years, 9 months ago

Japanese airbag maker Takata files for bankruptcy in US and Japan, gets US sponsor

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Takata faces tens of billions of dollars in costs and liabilities resulting from almost a decade of recalls and lawsuits. Japan’s Takata Corp, the firm at the centre of the auto industry’s biggest ever product recall, filed for bankruptcy protection in the United States and Japan, and said it would be bought for $1.6 billion by US-based Key Safety Systems. In the biggest bankruptcy of a Japanese manufacturer, Takata faces tens of billions of dollars in costs and liabilities resulting from almost a decade of recalls and lawsuits. “We believe taking these actions in Japan and the US is the best way to address the ongoing costs and liabilities of the airbag inflator issues with certainty and in an organised manner,” Takata CEO Shigehisa Takada said in a statement. Jason Luo, president and CEO of KSS, said in a statement the “underlying strength” of Takata’s business had not diminished despite the airbag recall, citing its skilled employee base, geographic reach and other safety products such as seat belts.

History of this topic

Some 45,000 Dutch cars affected by Citroën's worldwide recall over faulty airbags
2 months ago
BMW recalls 1.3 million vehicles in China that may have Takata airbag inflators
7 months, 1 week ago
Ford, Mazda warn owners to stop driving older vehicles with dangerous Takata air bag inflators
7 months, 2 weeks ago
Urgent warning over Toyota cars that can 'shoot sharp metal fragments' from airbags and kill drivers or passengers - as owners are told to immediately 'stop driving' them, are you affected?
1 year, 1 month ago
Third air bag death confirmed, owners urged to get repairs
2 years, 3 months ago
US confirms another Honda death from air bag, asks owners to get car recalled
2 years, 3 months ago
Volvo issues recall for 195,000 more vehicles in the US to replace driver airbag inflator
3 years, 5 months ago
Volvo issues recall for almost 260,000 pre-2010 cars in the US to replace driver airbag inflator
3 years, 5 months ago
US probes Takata air bags in 200 models from 20 automakers
3 years, 6 months ago
Ford loses track of dangerous air bags, forcing 2 recalls
4 years, 1 month ago
Ford to recall 3 million vehicles for air bags at $610 million cost
4 years, 2 months ago
GM to recall 7 million vehicles globally to replace Takata air bags
4 years, 4 months ago
Takata airbags: Toyota Corolla models added to list of dangerous cars on ACCC recall list
4 years, 5 months ago
Honda recalls 5,088 units of previous-gen Jazz, City, CR-V, Civic, Accord to replace faulty Takata airbags
5 years, 7 months ago
Honda recalls 3,669 units of Accord sedan to fix faulty airbags inflators supplied by Takata Corp
5 years, 11 months ago
BMW to recall 360,000 China cars over Takata airbags; move to affect over two dozen different models of firm
5 years, 11 months ago
Arizona man is killed by shrapnel from an exploding Takata airbag
5 years, 11 months ago
Shocking photos of faulty Takata airbag victims
7 years ago
Takata airbag recall: Owners advised to make the call or risk being left out
7 years, 8 months ago
Takata airbags: Toyota, Honda and Mazda facing class action
7 years, 8 months ago
Airbag-Maker Takata Files for Bankruptcy After Global Recalls
7 years, 9 months ago
Takata bankruptcy poses a risk to auto industry’s biggest recall
7 years, 9 months ago
Toyota recalls three million cars worldwide after exploding Takata airbags linked to 16 deaths
7 years, 11 months ago
Takata bidders said to offer at least $1 billion investments
8 years, 5 months ago
Chinese-owned Key Safety Systems said to plan bid for Takata
8 years, 8 months ago
It's Actually NBD Automakers Still Use Airbags the Feds Will Recall—For Now
8 years, 9 months ago
Defective Takata Air Bags Still Being Installed In New Cars
8 years, 9 months ago
Largest-ever U.S. auto recall gets bigger: 12 million more vehicles with Takata air bags ordered back
8 years, 10 months ago
Takata said to hold talks with possible buyers including KKR
8 years, 10 months ago
Takata agrees to recall another 35 million to 40 million air bag inflators
8 years, 10 months ago
Fixes for Takata air bags can take months. What to drive in the meantime?
8 years, 11 months ago
Takata said to put worst-case recall costs at $24 billion
8 years, 11 months ago
VW and Daimler recall 1.5m US cars over faulty airbag fears
9 years, 1 month ago
Honda adds 2.2 million vehicles to Takata air bag recall
9 years, 1 month ago
Record number of car recalls in China this year
9 years, 2 months ago
Toyota recalls 1.6 million cars after Nissan SUV air bag injury
9 years, 4 months ago
Watch Takata's Defective Airbags Explode in Slow Motion
9 years, 5 months ago
Honda India recalls almost 2.24lakh cars due to faulty airbags
9 years, 6 months ago
Honda to recall 2.24 lakh vehicles in India over faulty airbags
9 years, 6 months ago
Takata airbags dealt another blow in China
9 years, 8 months ago
Faulty airbags: Toyota recalls 7,129 units of Corolla in India
9 years, 8 months ago
Nissan recalls 12,000 vehicles to fix engine switch, airbag
9 years, 8 months ago
Takata to declare 33.8 million vehicles defective: report
9 years, 10 months ago
Takata Agrees To Declare Air Bags Defective In Nearly 34M Vehicles
9 years, 10 months ago
Honda exec says latest air bag-linked recall may impact Japan sales
9 years, 10 months ago
Honda, Toyota, Nissan, to recall millions more cars over exploding airbags
9 years, 10 months ago
Toyota, Nissan add more than 6 million cars to air-bag recall
9 years, 10 months ago
Honda to recall over 5.7 lakh cars in China
10 years, 3 months ago
Honda to expand investigative Takata air bag recall globally
10 years, 3 months ago

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