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VW and its Chinese joint ventures will recall nearly 5 million vehicles in China due to potential issues with Takata airbags.
Jason Luo told Ford headhunters that he had to see Key Safety's acquisition of Takata through before moving on -- but now he's leaving Key with a plan for growth.
Honda said it agreed to a $605 million so-called economic loss settlement covering more than 16 million vehicles in the United States with potentially faulty Takata airbag inflators.
Key Safety Systems CEO Jason Luo is resigning as the supplier inches closer to finalizing a $1.59 billion deal to acquire the embattled Japanese airbag supplier Takata Corp.
A federal judge overseeing the bankruptcy of Takata's business in the United States halted lawsuits for 90 days against automakers brought by victims of its faulty airbag inflators.
Takata filed for bankruptcy protection to pause lawsuits against the company over faulty airbag inflators -- more than a month after its American unit filed for bankruptcy.
Nissan agreed to a $97.7 million settlement to resolve class-action consumer economic loss claims tied to the recall of 4.4 million vehicles with Takata airbag inflators.
Takata will ask a U.S. judge on Wednesday to suspend lawsuits against automakers that have been brought by people injured by its faulty airbags, something that opponents say is an abuse of the law.
Honda said a Takata airbag inflator ruptured in car crash last week in Florida, in what could be the 19th death worldwide linked to the supplier's faulty airbags.
About 5.3 million Canadian vehicles have been recalled due to faulty Takata airbag inflators, but only 851,000 of them have been fixed.
An Australian man who died in a Sydney car crash may be the 18th death linked to faulty Takata airbags, after police said he was killed when hit in the neck by shrapnel from an airbag.
Ford wants to avoid a U.S. recall of about 2.5 million vehicles with Takata airbag inflators that the Japanese auto supplier declared defective last week.
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