Toyota Motor Corp. has agreed to shoulder up to USD 3.4 billion in repair costs under a proposed settlement of a U.S. class-action suit claiming the structural integrity of the automaker’s pickup trucks and sports utility vehicles is threatened by corrosion due to insufficient rust prevention, media reports said Saturday.

Toyota’s U.S. arm issued a statement acknowledging an agreement has been reached, but declined to disclose the terms as the settlement has yet to receive final court approval.

Reuters quoted court papers as stating that the proposed deal covers about 1.5 million Tacoma compact pickups, Tundra full-size pickups and Sequoia SUVs alleged to have received inadequate rust protection that may cause corrosion of the frames. (PNA/Kyodo) FPV/SSC

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