Takata agrees to pay $1bn in air bag scandal
Japanese car parts maker Takata has agreed to pay one billion dollars in fines in the US for concealing information about faulty air bags.
The Japanese firm will pay $25 million fine to settle the criminal charge, $125 million to people injured by the airbags and $850 million to carmakers that used them.
The faulty airbags have been blamed for at least a dozen deaths and over 100 injuries across the world.
Three Takata officials were indicted on charges connected to deceiving automobile companies about known defects in order to continue selling products they knew failed safety tests.
Before the scandal revealed back in 2015, Takata used to be the second largest provider of airbags in the world.
According to the US Justice Department, the car parts maker has already pleaded guilty to a single criminal charge.
The scandal prompted the largest safety recall in US history.
The faulty air bags could explode and propel shrapnel into the vehicle.
The defect has been tied to 11 deaths and more than 180 injuries in the United States alone.
The National Highway Traffic Safety Administration has recalled more than 64 million air bags in the US.
Some 100 million Takata airbags have been recalled globally with most major carmakers affected by the fatal fault.
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