Heard about the exploding Takata air bags installed in many cars? Upon impact, these airbags explode with such force that they propel metallic shrapnel into the car, and, tragically in some instances, into the car’s driver or passenger. So far, worldwide, 16 people have died and 180 more have been injured.
This, of course, led to multiple lawsuits against car manufacturers and others, seeking compensation for victims, and to provide for the removal of millions of Takata air bags and installation of safe bags.
Today, four car manufacturers–Toyota, Subaru, Mazda, and BMW–agreed to pay a total of $553 to settle the lawsuits that had been filed against them. $553 MILLION. It’s an enormous amount of money, of course.