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April 20, 2021
BUSINESS

Toyota to pay USD 1.1bln to settle safety lawsuit

Toyota, the third largest carmaker in the US market, has settled a US lawsuit that blames the company for defects in the speed control system in its vehicles, according to rt.com The class action has been the biggest safety crisis in the Japanese company’s history.The key accusation is that millions of Toyota cars accelerate unintentionally, with the proposed settlement set to cover economic losses from possible safety defects in Toyota vehicles, not wrongful death or injuries. Under the action, about 30 Toyota models sold in the US are affected, with the top-selling Toyota Camry midsize sedan and Corolla compact car on the list. “This was a difficult decision, especially since reliable scientific evidence and multiple independent evaluations have confirmed the safety of Toyota’s electronic throttle control systems,” Christopher Reynolds, general counsel for Toyota Motor Sales, USA, said in a statement.The National Highway Traffic Safety Administration, the US safety regulator, together with NASA said there was no link between the reports of unintended acceleration and Toyota’s electronic throttle control system. “However, we concluded that turning the page on this legacy legal issue through the positive steps we are taking is in the best interests of the company, our employees, our dealers and, most of all, our customers,”Reynolds added.

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