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Takata Corp. filed for bankruptcy protection in Japan and the U.S., after the world’s biggest automotive recall scandal. The company will be bought by the U.S. supplier Key Safety for $1.59 billion. The sale will not include some operations related to Takata’s business in the ammonium nitrate airbag inflators that were the subject of a global recall linked to defects that resulted in some airbags exploding with too much force and spraying the cabin with metal shards. Malfunctioning Takata airbag inflators have been linked to at least 16 deaths and 180 injuries worldwide ...
Auto supplier Robert Bosch is investing $1,1 billion in its semiconductor plant. The company has never made such big investments before, which means this deal it’s planning right now is really worth it. The factory in Dresden, Germany, will start producing chips needed for autonomous vehicles, smart homes and Internet-linked city infrastructure in 2021. It’ll employ as many as 700 workers once construction is complete in 2019. Bosch, known as a maker of traditional car parts such as braking systems and combustion engines, is also a long-time software developer and is inc...
FCA is on its way to recall more than 1.25 million pickups worldwide for a software error linked to reports of crash death and 2 injuries. This erroneous code could temporarily disable the side airbag and deployment seat of belt pretensioners- which reduce seat belt slack during impacts during a vehicle rollover spurred by a significant underbody impact, such as striking onroad debris or driving off-road. The company will reprogram computer modules in the affected vehicles to address this error. An FCA spokesman said the likelihood of an incident was very low because a sequence...
Japan's Takata, maker of defective air bags that have been linked to 11 U.S. deaths, could settle criminal charges with the U.S. Department of Justice before the Obama administration leaves office next month. Part of a settlement would include Takata pleading guilty to criminal misconduct. The Justice Department has investigated whether Takata hid information from safety regulators and issued misleading statements about the dangers posed by the air bags. Any deal would likely include a monitor to ensure Takata's compliance with the agreement. The Wall Street Journal, citing ...
Automakers may recall as many as 400,000 vehicles that have Autoliv Inc. seat belt and airbag parts worldwide, the Swedish auto safety parts maker said on Friday. No crashes or injuries have been reported in the two separate issues Autoliv reported to U.S. safety regulators and the costs of the potential recalls will not be material to Autoliv earnings, company spokesman Thomas Jonsson said. Autoliv said there are possible glitches in its widely used seat belt pretensioners, which work to tighten seat belts to better secure a driver or passenger, and a product that initiates the pro...
