Air-Bag Manufacturer Takata to File for Bankruptcy
Amid lawsuits and recalls over faulty air bags.
Toru Hanai/Reuters
Air bag manufacturer Takata is expected to file for bankruptcy in Japan and the United States on Monday, the Associated Press reports, amid lawsuits and near-constant recalls of faulty air bags. Around 100 million air bags have been recalled worldwide over a defective mechanism which can force out shrapnel as it explodes inside a vehicle. Sixteen people have died as a result of the faulty air bags, and 180 have been injured. The AP reports that a Takata rival, Detroit-based Rival Key Safety Systems, will buy most of Takata’s assets for $1.6 billion.
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