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Worldwide, the Takata airbag recall has affected some 129 million inflators installed in vehicles that later had to be recalled. 69 million of those vehicles were in the United States alone. The airbags use a chemical called ammonium nitrate to deploy during an accident. However, this chemical can deteriorate over time, especially when exposed to heat and humidity. The deterioration can cause the airbags to explode with too much force, sending debris into the cabin of the vehicle. Several deaths have been linked to the airbags. Now, the company has finally agreed to a settlement with several states as the New York Times reports.
Takata has reached a $650 million-dollar settlement with 44 states and Washington D.C. Due to the company’s financial problems and their bankruptcy, they will only pay a tiny fraction of that settlement.
With the exception of South Carolina, who led the states in the lawsuit, and will collect slightly over $139,000, the states have agreed not to accept money. They reached this agreement so that victims of the faulty airbags can collect more money.
More than 180 people have been injured and 2 people have died worldwide due to the faulty airbags.
Takata went into bankruptcy amid lawsuits and recall costs for the millions of vehicles that were affected worldwide.
The company entered a deal with the U.S. Justice Department to pay $125 million for victim restitution. They also have to pay automakers $850 million to cover their recall and litigation costs.
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