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Takata To Pay $1 Billion Fine — The End Of An Explosive Saga?
Takata has now been asked to pay $1 billion in settlements after the Japanese air bag manufacturing company has pleaded guilty.
The Takata airbag recall was one of the largest scandals as millions of cars were affected globally, and at least 16 cases of deaths reported. After a long battle, Takata has pleaded guilty and is now forced to pay $1 billion.
The faulty Takata airbags deployed with an explosion, sending metal shrapnel from the airbag system that could potentially kill occupants in the case of an accident. Takata knew the risks involved and continued to sell the faulty airbags, and lied about it for almost ten years.
Now, Takata has pleaded guilty for intentionally selling defective airbags to carmakers even after knowing the dangers involved.
Takata has been ordered to pay $1 billion, out of which $850 million is to be paid to automakers as compensation, $20 million as fine, and to set up a $125 million fund to compensate affected victims and family members.
The issue continues to carmakers too, as Detroit News reports that the lawsuit is aimed at automakers such as Honda, Toyota, Nissan, Ford, and BMW, as they knew the dangers involved and continued to use Takata airbags because they were cheap.
Speaking of airbags, a recent crash test study by Global NCAP revealed that the Ford Figo Aspire, pictured in the gallery below scored three stars for safety.
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