Car makers settle Takata lawsuit
Four car makers have agreed to an $800 million settlement to address claims filed in relation to defective Takata airbag inflators, according to court documents filed overnight. Toyota will cover $403 million of the settlement, followed by BMW at $190 million, Mazda at $110 million and Subaru at $98 million, Reuters reports. Lawsuits against other leading car makers Honda, Ford and Nissan are yet to be settled. The four car makers – Toyota, BMW, Mazda and Subaru – said in a joint statement that they settled "given the size, scope and severity of the Takata recall," but none have admitted fault. At least 16 deaths and 180 injuries worldwide have been linked to the faulty airbag inflators, which can explode with excessive force and unleash shrapnel inside the cabin of the car. In most instances, the airbags ruptured in humid, high temperatures, and no incidents have been reported in New Zealand. Reports of the incident led to the largest automotive recall worldwide, affecting 100 million vehicles. In January, Takata pleaded guilty to criminal charges and paid out a $1.4 billion settlement. Searches for a buyer have stretched on for over a year, and last month, the company reported it was considering bankruptcy. This latest settlement includes contacting owners who still have the faulty airbags, compensation for economic losses, residual payments, rental cars for some owners, and customer support for repairs.