Takata

About Takata

Takata Corporation filed for bankruptcy in June 2017. The Japanese auto parts manufacturer had produced defective airbag inflators that could rupture and spray metal fragments. The defect was linked to at least 27 deaths and over 200 injuries worldwide. The recall affected approximately 100 million vehicles across multiple manufacturers including Honda, Toyota, BMW, and Ford. Takata pleaded guilty to wire fraud for concealing the defect and paid 1 billion in penalties. Key Systems Automotive, a Chinese owned company, acquired most of Takatas assets for 1.6 billion. The Takata bankruptcy was the largest automotive bankruptcy caused by a product defect. The recall continues to be one of the largest and most complex in automotive history, with some vehicles still unrepaired.