Three Toyota affiliates agreed to an estimated $436 million settlement. The agreement resolves a U.S. class-action lawsuit over emissions cheating in forklift truck engines.
The lawsuit alleged nine engine models (model years 2007 to 2021) failed to meet emissions standards. Toyota Motor Corp., the parent automaker, was previously dismissed as a defendant.
The proposed settlement requires court approval. It allocates $299.5 million in cash for owners and lessees of the 272,422 affected forklifts.
The agreement also provides inspections and maintenance valued between $83.7 million and $189.3 million. Plaintiffs contended they would have paid less or avoided purchasing the vehicles had they known of the emissions issues.