US air bag probe: Takata to pay $1 bn, plead guilty

$25 million will be given to US and $975 million to compensate carmakers and people who were injured

Takata admitted to hiding the deadly risks of its exploding air bags for about 15 years in an agreement to pay US regulators, consumers and car manufacturers $1 billion in penalties. The faulty air bags have been linked to at least 17 deaths worldwide.
 
The Tokyo-based manufacturer also agreed to plead guilty to one criminal charge. The settlement requires approval of a US judge.
 
Formerly, the second largest supplier of air bags in the world, Takata has had difficulty coping with the biggest product recall in history, which is expected to cover more than 100 million air bags.