Airbag maker Takata file for bankruptcy protection

Japan’s Takata, at the centre of the auto industry’s biggest-ever product recall, filed for bankruptcy protection in the US and Japan, and said it had agreed to be largely acquired for $1.6bn (€1.42bn) by the Chinese-owned US-based Key Safety Systems (KSS).

In the biggest bankruptcy of a Japanese manufacturer, Takata faces tens of billions of dollars in costs and liabilities resulting from almost a decade of recalls and lawsuits.

Its airbag inflators have been linked to at least 16 deaths and 180 injuries around the world because they can rupture and send metal fragments flying.