With sales of vehicles equipped with the popular eight-speed transmission growing, FCA US LLC confirmed that it will invest an additional $266 million in its Kokomo Transmission Plant (Ind.) to increase capacity of the fuel-efficient TorqueFlite transmission. This is the sixth investment made at Kokomo Transmission (KTP) since June 2009, bringing total investment in FCA US Kokomo operations to nearly $1.8 billion.
FCA US, formerly Chrysler Group LLC, notified city officials of the new investment at the Dec. 8, 2014, Kokomo Common Council meeting, asking the Council to amend an existing tax abatement to support this new investment. The investment will be used to purchase new equipment and tooling, adding more assembly capacity within KTP’s existing floor space. With the Council’s approval, work in the plant will begin immediately and be completed in the third quarter 2016. With this investment, there will be retention of employment.
Source
Chrysler Media Group