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Takata shares tumbled as much as 69 percent to a record low as the Tokyo Stock Exchange removed daily limits on the stock's price declines following the company's bankruptcy protection filings.
Takata expressed condolences to victims of its faulty airbags linked to at least 16 deaths and 180 injuries around the world, but stopped short of offering a full apology.
Toyota, Nissan, Honda and Mitsubishi said Takata's filing for bankruptcy protection will make it difficult for them to recoup billions of dollars they have spent to recall defective airbag inflators.
Key Safety Systems, which plans to acquire Takata's assets for $1.6 billion, is emphasizing how it wants to maintain continuity.
Takata filed for bankruptcy protection, saying it would sell most of it assets to Key Safety for $1.59 billion. The supplier is at the center of the industry's biggest ever recall for faulty airbags.
Wang Jianfeng, founder and chairman of Ningbo Joyson, is poised to pull off his biggest deal yet: a $1.59 billion takeover of Takata by Ningbo's Key Safety Systems.
The expected bankruptcy of troubled airbag maker Takata throws a wild card into one of the biggest and most complicated recalls in automotive history.
Honda said an engineer who once suggested he knew a hidden truth about "the root cause" of Takata's defective airbags later indicated he was mistaken.
Subaru's new safety technologies came in response to a very Japanese problem: Vehicle accidents involving pedestrians and seniors are more common in Japan than elsewhere.
GM agreed to settle federal lawsuits by as many as 203 plaintiffs over defective ignition switches. The accord could also resolve hundreds of state court claims.
Dodge Grand Caravan output will continue this fall -- but not for US customers, according to a union official at the Canada plant where Fiat Chrysler builds the minivan.
A witness said the driver involved in a fatal crash while using Tesla's Autopilot function was not playing a video in his car, a government report said.
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