The Takata airbag recall is the largest in U.S. history, and probably the history of the world. So it goes without saying that the multi-year, multi-automaker campaign won’t be cheap. But now, it appears Takata might not be stuck holding the entire bill, as a report from Bloomberg says Takata will begin discussing splitting costs with manufacturers.
The talks are made possible by a report submitted by the German research institute that was hired to investigate the cause of the airbag inflator defect. That document, filed by Fraunhofer Institute in July, doesn’t specify whether the responsibility lies with the supplier or the automakers. Now, automakers plan to discuss with Takata how to divvy up the recall costs, which Takata says are difficult to estimate at this time. The number is in the billions of dollars, however.
Takata is banking on automakers agreeing to pay for some of the recall costs. The supplier is currently in the midst of a restructuring, and is courting potential buyers. CEO Shigehisa Takada announced that he’ll step down once new management is in place. In its second-quarter earnings report, Takata said net income fell 33 percent to $20.5 million and that the company racked up $34.4 million in costs relating to airbag lawsuits.
Source: Bloomberg
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