Chrysler Group LLC will invest $19.6 million in its Toledo Machining Plant in Perrysburg, Ohio, to increase capacity of the torque converter the plant is machining for the nine-speed transmission. With this announcement, the company’s total investments in its US operations since June 2009 increase to more than $5.2 billion.
The new torque converters will be paired with the next generation, fuel efficient nine-speed front-wheel drive transmission being assembled at Chrysler Group’s Indiana (Kokomo, Ind.) Transmission Plant I. The new transmission will debut in the 2014 Jeep Cherokee.
The new nine-speed transmission is a critical part of our strategy to meet fuel economy requirements over the next several years and Toledo Machining will play an integral role in bringing this transmission to market.—Scott Garberding, Senior Vice President, Manufacturing, Chrysler Group LLC
The investment will fund the installation of new equipment and tooling for additional machining and assembly capacity. Installation is expected to begin in the third quarter of 2014 and will be completed by the end of 2014.
In August 2011, a $72 million investment in Toledo Machining was announced to modernize the plant to produce the eight- and nine-speed torque converters on two new production lines and a new steering column for the Dodge Dart and Jeep Cherokee. These installations will be complete in the third quarter this year.