China firm in contenders shortlist to save Takata
Key Safety Systems, a unit of Chinese components supplier Ningbo Joyson Electronic Corp, was selected over industry leader, Autoliv Inc of Sweden
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Tokyo
A YEAR ago, Ningbo Joyson Electronic Corp would have been an unlikely name on a shortlist of candidates to rescue Takata Corp, the Japanese air-bag maker that's behind the biggest safety recall in automotive history.
The Chinese components supplier, founded by a former TRW Automotive Inc executive, made less than a quarter of Takata's annual revenue, employed a workforce that's less than half the size of its peer, and was about 70 years younger. At the same time, the costs linked to a potential bailout for Takata kept ballooning as additional defective air bags in the millions were recalled.
Share with us your feedback on BT's products and services
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
