Released on June 9, 2010

Chrysler Group LLC, Auburn Hills, Mich., recently announced it will invest another $300 million in its facilities in Kokomo, Ind., including the Kokomo Casting Plant, for the production of a new transmission.

Chrysler said the investment will fund the installation of equipment and tooling intended to manufacture a new fuel-efficient eight-speed automatic transmission in its Indiana Transmission Plant I and Kokomo Casting Plant.

According to a press release issued by Chrysler, the project will extend the life of both Kokomo manufacturing facilities and help retain nearly 1,200 jobs. The announcement comes about one month after the company made a $43 million investment in the same plants to support production of the World Engine and improve processes for the 62TE transmission program.

“The new eight-speed transmission that we’ll be producing in Kokomo will transform our future product line, but equally important, [it] ensures the future viability of our Kokomo facilities and our dedicated workforce,” said Scott Garberding, Chrysler’s senior vice president and head of manufacturing.