Jump to content
William Maley

Industry News: Runorpile: Takata In the Process of Working on A Settlement With Justice Department

Recommended Posts

The Takata Airbag recall now stands as the largest vehicle recall ever due to how many vehicles around the world use them. In the U.S. alone, 19 auto manufacturers have recalled 49 million vehicles with the airbags that can shoot out shrapnel in the event of an accident. 11 deaths and 184 injuries in the U.S. have been linked to these airbags. Due to this, Takata has been facing numerous lawsuits and investigations. A new report says that Takata is close to closing one of those investigations.

The Wall Street Journal has learned from sources that Takata is in negotiations with the U.S. Justice Department about a possible settlement. The deal would see the Japanese supplier pleading guilty to criminal misconduct and paying a fine ranging from hundred of millions to $1 billion. The settlement could be finalized early next year, but sources say the timing could slip.

Reaching an agreement with the Justice Department would put Takata in better standing when it comes to another supplier (possibly Autoliv) taking over the company. It would also close one door in a massive scandal.

Source: Wall Street Journal (Subscription Required)


View full article

Share this post


Link to post
Share on other sites

Expect this to be in the billions, anything less is incompetence on Takata's part and a pay off to the gov.

Share this post


Link to post
Share on other sites
1 hour ago, Scout said:

Takata may go bankrupt before they can complete the recall. Then what does everyone do?

Auto companies will still be on the hook to replace them or face fines. I suspect if Takata goes bankrupt and closes down, someone else will step in to supply bags as buying back auto's will be a nightmare every auto company will want to avoid.

Share this post


Link to post
Share on other sites

Your content will need to be approved by a moderator

Guest
You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoticons maximum are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.




  • Today's Birthdays

    1. aaaantoine
      aaaantoine
      Age: 35
  • Similar Content

    • By William Maley
      China will soon be introducing regulations where automakers have to sell a certain amount of electric vehicles. This has caused a number of automakers to introduce new models and plan new alliances.
      The Nikkei Asian Review reports that Mazda is planning to develop a new electric vehicle with their Chinese partner, Changan Automobile Group. The model is expected to be an SUV. Changan will provide the majority of the electric drivetrain while Mazda will produce the bodies.
      Mazda and Changan have been in a 50:50 joint-venture partnership since 2012, but the two have been working together since the 2000s. Currently, the venture builds the CX-3, CX-5, and Axela hatchback and sedan.
      This isn't only partnership Mazda has in terms of developing electric vehicles. Last year, Mazda and Toyota announced a new partnership that included plans for developing electric vehicle technologies.
      Source: Nikkei Asian Review

      View full article
    • By William Maley
      China will soon be introducing regulations where automakers have to sell a certain amount of electric vehicles. This has caused a number of automakers to introduce new models and plan new alliances.
      The Nikkei Asian Review reports that Mazda is planning to develop a new electric vehicle with their Chinese partner, Changan Automobile Group. The model is expected to be an SUV. Changan will provide the majority of the electric drivetrain while Mazda will produce the bodies.
      Mazda and Changan have been in a 50:50 joint-venture partnership since 2012, but the two have been working together since the 2000s. Currently, the venture builds the CX-3, CX-5, and Axela hatchback and sedan.
      This isn't only partnership Mazda has in terms of developing electric vehicles. Last year, Mazda and Toyota announced a new partnership that included plans for developing electric vehicle technologies.
      Source: Nikkei Asian Review
    • By William Maley
      Last month, we reported that work had begun on the next-generation Jaguar XJ. The company's director of design Ian Callum said it would be "something quite special." What that may mean is the next XJ transition to being an electric-only model.
      Autocar has learned that Jaguar is planning to reinvent the XJ into being a fully-electric model to take on the like of the Tesla Model S, and provide an interesting alternative to the Mercedes-Benz S-Class. Design-wise, the XJ will morph into a 5-door model - something akin to an Audi A7 we're guessing. It will also debut a new design language that will be used on future models.
      In terms of platform, the new XJ will use an all-new platform that will be shared with an upcoming model from Land Rover - the Road Rover we reported in the Rumorpile back in September. The platform will be capable of being equipped with internal-combustion or electric powertrains. For the XJ, it is believed that twin electric motors will be used to power and provide AWD.
      Autocar expects the car launch in 2019.
      Source: Autocar
  • My Clubs

  • Who's Online (See full list)

About us

CheersandGears.com - Founded 2001

We  Cars

Get in touch

Follow us

Recent tweets

facebook

×