Chrysler Investing $374 Million to Build More Transmissions That Boost Fuel Economy

Chrysler is investing invest nearly $374 million to increase production of transmissions at a number of plants, including production of nine-speed transmissions. Chrysler stated it's investing more than $1.6 billion in its Kokomo Transmission plant for the production of eight- and nine-speed transmissions and other improvements at its plants in the area. This latest investment of $374 million will add 1,250 jobs.

Plants receiving this investment include Kokomo Transmission, Kokomo Casting and Indiana Transmission I, which will receive $212 million, and the new Tipton Transmission Plant, which will receive $162 million. The new Tipton Transmission Plant will begin producing nine-speed transmissions in the first quarter of 2014, according to Chrysler. 

Vehicles using these new transmissions include the 2014 Jeep Grand Cherokee, where an eight-speed transmission drives its new EcoDiesel engine option, the 3.6L Pentastar V-6, and the 5.7-liter V-8. Chrysler noted that when equipped with the V-6, the vehicle can achieve up to 25 mpg highway and when equipped with the V-8, it can achieve 22 highway mpg. On the Dodge Charger with the 3.6L V-6, the vehicle can get up to 31 mpg highway and up to 27 mpg highway on the all-wheel-drive models, according to the company.