Four automakers including Toyota and BMW agreed Thursday to pay $553 million to settle a US lawsuit over the defective Takata airbags blamed for 11 deaths in the United States alone. The lawsuit filed in late February claimed the carmakers were aware of the dangerous defects and used the airbags in their vehicles anyway. Nearly … Read more
Japan’s Toyota Motor Corp (7203. T) and Suzuki Motor Corp (7269.T) appeared poised to unveil a wide-ranging partnership on Monday that could include the development of new technologies and procurement. Both automakers, which said in October they were exploring a tie-up, said their boards would make a decision on the matter later in the day. … Read more
Donald Trump has tweeted that Toyota will face hefty tariffs on cars built in Mexico for the US market. The President-elect said the Japanese company would be hit with a “big border tax” if it went ahead with plans to build Corollas south of the border. American car companies have faced harsh criticism from Mr … Read more