Close [X]

Toyota to pay US fine of $16.4 mn

img

Toyota Motor Corp was planning to pay a proposed $16.4 million fine from US regulators without admitting wrongdoing as the automaker seeks to repair its reputation after massive recalls, Japanese media reported on Saturday.


US safety regulators alleged earlier this month that Toyota knowingly hid information from regulators and violated regulations by delaying a recall in January for gas pedals that would not spring back as designed.

Toyota was in talks with US authorities and intended to pay the fine ahead of Monday's appeal deadline, Jiji news agency said. But there was still a possibility it would appeal if regulators did not approve the company's plan of not admitting the allegations, it said.

Toyota's decision to agree to the fine came out of a fear that its refusal could draw ire from the US government and Congress, hurting its efforts to rebuild its brand, Jiji said.

A Toyota spokeswoman Mieko Iwasaki said no decision had yet been made.