🤯 Picked by our AI, this stock rallied more than Nvidia this month, yielding 94% since MarchSee the stock

Takata declares nearly 14 million U.S. air bag inflators defective

Published 17/05/2016, 00:22
© Reuters. Logo of Takata Corp is seen on its display at a showroom for vehicles in Tokyo
F
-
STLAM
-
HMC
-
TTM
-
TSLA
-
7312
-

By David Shepardson

WASHINGTON (Reuters) - Japanese air bag manufacturer Takata Corp (T:7312) on Monday filed reports with U.S. auto safety regulators declaring nearly 14 million air bag inflators defective.

Earlier this month, Takata said it would expand recalls for defective air bag inflators by 35 million to 40 million in several tranches through 2019, adding to the 28.8 million recalled before May 4.

Monday's recall of nearly 14 million inflators is the first tranche of the expansion announced on May 4.

This is the largest recall in U.S. auto safety history. Malfunctioning Takata air bag inflators can explode with too much force, sending shrapnel into vehicles. The issue has been linked to 13 deaths worldwide, and more than 100 injuries.

Takata said there are no reports of any ruptures or injuries linked to the inflators involved in the most recent expansion, but agreed "out of an abundance of caution" to file the defect reports to promote public safety and in cooperation with U.S. regulators.

Takata said it is aware "that remedy parts are not currently available for many of the vehicles containing inflators." It agreed to work closely with each manufacturer to develop a recall plan to focus on high-humidity areas where the risks are greatest.

Air bag inflators made by Takata have shown an increased chance of malfunctioning, over time, when exposed to humidity.

Earlier this month, the National Highway Traffic Safety Administration (NHTSA) said Tesla Motors Inc (O:TSLA), Fisker Automotive and Jaguar Land Rover will recall Takata air bag inflators, bringing the number of automakers involved to 17, including Honda Motor Co (T:7267), Ford Motor Co (N:F) and Fiat Chrysler Automobiles NV (MI:FCHA) (N:FCAU).

Jaguar Land Rover is a Tata Motors Ltd (NS:TAMO) brand.

The expansion of up to 40 million inflators will cover all the remaining Takata inflators containing ammonium nitrate-based propellant on driver and passenger frontal air bags without a chemical drying agent, known as a desiccant, that were not previously recalled.

© Reuters. Logo of Takata Corp is seen on its display at a showroom for vehicles in Tokyo

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.