Chrysler to Invest Additional $85 Million for Powertrain Improvements
AUBURN HILL, MI - Chrysler Group LLC confirmed it is looking to invest another $85 million in its Kokomo Transmission Plant (KTP) for a variety of powertrain improvements. With this announcement, the company's total investment in U.S. facilities would climb to more than $3 billion since June 2009.
Chrysler Group notified city officials of the potential new investment at the Dec. 13 Kokomo City Council meeting. At the same meeting, Chrysler Group also requested the transfer of the previously approved tax abatement certificate on the announced $300 million investment from Indiana Transmission Plant I (ITPI) to KTP to facilitate the production of the next generation eight-speed transmission.
"We're moving eight-speed production to KTP because we're pulling production ahead and the timing worked better at KTP," said Brian Harlow, vice president and head of Powertrain Manufacturing, Chrysler Group LLC. "This move opens up space at ITPI to prepare the plant for production of the front-wheel drive transmission, which we announced in November."
At the Dec. 13 meeting, the Kokomo City Council also approved Chrysler Group's tax abatement application on the $843 million investment for production of the front-wheel drive transmission.
Chrysler Confirms $843M Investment for Advanced FWD Transmission