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Takata filed for bankruptcy protection in Japan and the U.S., saying it would sell key assets to U.S. supplier Key Safety Systems for $1.59 billion.
Here is a recap of Takata's airbag recall crisis that culminated with the supplier's bankruptcy filings in the U.S. and Japan on Sunday:
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.
Takata will seek bankruptcy protection on Monday, Reuters reported. The troubled airbag supplier faces billions of dollars in liabilities.
Takata would stop making airbag inflators after completing a global recall, under a bankruptcy restructuring plan under consideration by its steering committee, sources told Reuters.
Airbag maker Takata is preparing to file for bankruptcy as early as next week as it works toward a preliminary deal for financial backing from Key Safety Systems, Reuters reported.
There is one explanation most ignore when discussing Tesla's high valuation: Tesla has yet to do what GM did in 2009.
Takata stock trading was suspended in Japan after a newspaper report that the embattled auto supplier was considering filing for bankruptcy protection.
Potential rescuers of Takata have extended talks, already in their 14th month, for a deal to take over the airbag supplier at the heart of the auto industry's biggest safety recall, Reuters reported.
American Axle has completed its $3.3 billion acquisition of Metaldyne Performance Group from private equity firm American Securities.
U.S. auto supplier Chassix said it plans to invest $50 million to expand its operations to the Czech Republic in 2018.
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