Takata CEO: We Have Enough Money To Deal With Recalls

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Takata Corp., one of the biggest reason behind vehicle recalls this year, has said that it has enough funds to deal with almost 21 million vehicle recalls that have been made.

Shigehisa Takada, the Chief Executive of Takata Corp., has told newspapers that the company has set aside funds of up to USD $774 million to deal with the recall crisis, and moreover will take financing steps if needed.

The airbag manufacturing company is also facing lawsuits as well as a criminal investigation. Takada has said that he his not shying away from making a public appearance, because the company has failed to make one yet, but just been held up with the company trying to fix the crisis.

Till date, the faulty airbags have claimed five lives, four in the US and one in Malaysia. The company is checking collected inflators to find out the actual root cause of the airbag problem.

Takata is currently testing upto 100 inflators a day, and has even ramped up production in its facility in Mexico to deal with this global crisis.

NOTE: Vehicles that were recalled with airbag defects were made by Takata Corp., Japan. The airbags had a high risk of dispersing shrapnel when deployed, harming or even killing occupants in case of an accident.

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Story first published: Saturday, December 20, 2014, 10:55 [IST]
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