Airbag Manufacturer Takata Has Declared Bankruptcy

After a worldwide recall of its defective airbags, Takata has filed for bankruptcy amidst financial catastrophe
Airbag Manufacturer Takata Has Declared Bankruptcy

This has not been a good year for auto parts manufacturer Takata. The Japanese company has been at the centre of a worldwide recall affecting almost 16 million vehicles, issued due to certain airbags suffering from unusually high rates of failure. In many cases, these airbags were prone to exploding upon activation, resulting in a multitude of injuries, lawsuits, and at least 17 deaths.

Airbag Manufacturer Takata Has Declared Bankruptcy

Not surprisingly, the recalls and lawsuits have taken one hell of a toll on Takata’s finances. On Monday, Takata Corp. filed for bankruptcy protection in the face of class-action settlements from victims of its defective airbags. However, the bankruptcy is not expected to affect the settlement process.

Airbag Manufacturer Takata Has Declared Bankruptcy

The recent bankruptcy filing is the latest blow to Takata, which has been producing a wide variety of components since 1933. However, it’s believed the financial restructuring will help expedite the process of replacing faulty airbags. Even so, it’s thought that it will be years before all affected vehicles will be repaired.

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Comments

Anonymous

Well that must have blown up right in front of heir faces.

06/28/2017 - 08:12 |
33 | 1
Tomislav Celić

[DELETED]

06/28/2017 - 08:14 |
95 | 5

Yeah…

You nearly killed me.

From CarThrotrle.

06/28/2017 - 08:43 |
11 | 2

Dude my gf was looking over my shoulder lol not cool

06/28/2017 - 09:21 |
51 | 2

Don’t see anything faulty with those airbags…

06/28/2017 - 11:28 |
8 | 2

Why was it deleted? What was it?

06/29/2017 - 16:59 |
2 | 0
DanielD

What’s an airbag? Lol

06/28/2017 - 08:23 |
24 | 2
Tomislav Celić

In reply to by DanielD

You serious?

06/28/2017 - 08:24 |
4 | 3
Anonymous

i like their seatbelts tho

06/28/2017 - 08:25 |
9 | 0
Anonymous

In reply to by Anonymous (not verified)

Harnesses are made by Takata racing, which is a different company so you’re good

06/28/2017 - 19:16 |
5 | 0
DanielD

[DELETED]

06/28/2017 - 08:42 |
0 | 0
Anonymous

R.I.P. Takata seatbelts too…

06/28/2017 - 09:24 |
4 | 0
Anonymous

In reply to by Anonymous (not verified)

The harnesses are made by takata racing, which is a different company so they will continue to be made.

06/28/2017 - 19:17 |
1 | 0
Bmfb98

And all that fuzz about an empty bag

06/28/2017 - 10:18 |
2 | 0
🇯🇵WP

Noooooooo

06/28/2017 - 10:33 |
1 | 0
Kevin 15

Because Takata know how to die like a real man

06/28/2017 - 10:50 |
4 | 0