Nissan Motor Co. and its U.S. unit will pay almost $98 million to settle economic-loss claims tied to Takata Corp. air bag recalls (In re: Takata Airbag Product Liability Litigation, S.D. Fla., 15-md-02599).
The agreement, filed in court Aug. 8, will provide for an accelerated replacement of recalled air bags and reimbursement for out-of-pocket costs.
The Nissan agreement follows a $533 million settlement with four other automakers reached in May. That agreement with Toyota Motor Corp., Subaru Corp., Mazda Motor Corp. and Bayerische Motoren Werke AG won preliminary court approval in June.
The massive Takata air bag recalls, ...
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