Chrysler Group to invest $374M to increase production of 8- and 9-speed transmissions in North-Central Indiana
Chrysler Group LLC will invest nearly $374 million to boost transmission production in north-central Indiana, making it the largest transmission installation in the world. Investments include:
Kokomo Transmission, Kokomo Casting and Indiana Transmission I Plants: $212 million for additional tooling and equipment to produce eight- and nine-speed transmissions. Work on the facilities is scheduled to begin in the second quarter 2013, with equipment and tooling to be installed in the fourth quarter 2013.
Tipton Transmission Plant: acquiring the former Getrag facility and investing $162 million to establish an additional assembly site for the nine-speed transmission. Production at the site will begin in the first quarter of 2014.
With this announcement, Chrysler Group has confirmed investments of more than $1.6 billion in Kokomo for production of the eight- and nine-speed transmissions as well as various other process improvements at all four area facilities: Kokomo Transmission, Kokomo Casting, Indiana Transmission I and Indiana Transmission II.