Chrysler confirms $843M investment in Kokomo, IN plants

Filed under: Hirings/Firings/Layoffs, Plants/Manufacturing, Chrysler

Sergio Marchionne stopped by Chrysler's transmission manufacturing facilities in Kokomo, Indiana and delivered some good news. The Chrysler Group plans to invest $843 million into the plants to modernize them and prepare for the production of a new front-wheel drive automatic transmission. This pushes the automakers total investment dollars near the $3 billion mark, dating back to June of 2009, with $1.1 billion of that earmarked specifically for the Kokomo facilities. More importantly, this announcement should have 2,250 employees breathing a little easier because it allows their jobs to be retained.

We know Chrysler is getting ready to launch its eight-speed transmission, but this new transmission in development has yet to be revealed.

"For years, Kokomo has been at the center of our powertrain strategy and the potential of an additional investment reaffirms that position," said Sergio Marchionne, CEO, Chrysler Group LLC. "When introduced, this new front-wheel drive transmission, along with the previously announced eight-speed transmission we will also produce in Kokomo, will transform our future products and position them as leaders in marketplace. With the promise of investing more than $1 billion into our Kokomo facilities within the last six months, we are demonstrating our commitment to this community and our dedicated workforce. We appreciate the support of the UAW and the City of Kokomo, and look forward to continuing a partnership that will see the Chrysler Group once again become a successful and competitive enterprise."
New transmissions, more stable jobs and a new Charger? 2011 is certainly shaping up to be brighter than last year for the Pentastar.

[Source: Chrysler]Continue reading Chrysler confirms $843M investment in Kokomo, IN plantsChrysler confirms $843M investment in Kokomo, IN plants originally appeared on Autoblog on Thu, 25 Nov 2010 15:22:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments

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