Takata, the Japanese automotive supplier at the centre of a global recall crisis over exploding airbags, has agreed to plead guilty to criminal wrongdoing in the US, as three of its executives were indicted for their roles in the scandal.
The company admitted to hiding the risks of its defective airbags for about 15 years in an agreement to pay US regulators, consumers and car manufacturers US$1bn in penalties. The faulty products have been linked to at least 17 deaths worldwide.
The payment includes US$25m to the US and US$975m to compensate carmakers and people who were injured, according to court papers made public.
For the full story, see the February 2017 edition of MobileTex. Not a subscriber? Sign up HERE