The move will prompt 17 automakers to issue vehicle recalls.
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The recalls are among the first to be unveiled by automakers since Takata agreed to the recall expansion.
At this point we don’t know how many more units will be recalled in Canada.
The NHTSA announced in May that its “five-phase” recall will be based on the prioritization of risk, which will pull the age of the inflators, exposure to high humidity and varying high temperatures into its formula.
The airbag recall was caused by a chemical malfunction in the airbag inflators. Takata retains the financial services of Lazard Ltd.to attract more investments as they gear up for a massive restructuring plan.
Although Takata gave an official forecast to be back into profit for the current fiscal year, that does not take into account the latest recalls, but analysts say the future of Takata remains uncertain. Outside of the U.S., FCA estimates that another 933,000 of its vehicles are affected by the Takata airbag inflator recall, including models not sold in North America.
Earlier this year, Takata confirmed that the recall would be on a much larger scale than previously expected, with the total cost expected to rise to 2.7 trillion yen (£16.7bn).
The U.S. has been particularly hard-hit by the recalls, but isn’t the only nation affected.
Takata Corp., the air-bag maker facing billions in possible costs for the biggest recall in automotive history, is in talks with potential buyers including KKR & Co., according to a person familiar with the matter.
As of March 2015, 52.1% of Takata shares were owned by TKJ, a Takada family investment vehicle, 2.9% by Chairman and CEO Shigehisa Takada, and 2.1% by his mother Akiko Takada.
Required replacement parts may not become available until late-Summer 2016. Takata has to prove to the government that those are safe by the end of 2019, or they will be recalled.
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The embattled Japanese supplier faces an ongoing U.S. criminal investigation as well as class-action lawsuits and suits filed by the state of Hawaii and the U.S. Virgin Islands.
