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Chrysler To Announce Investment In Kokomo Plants

By TOM KRISHER

DETROIT (AP) â¿¿ Chrysler will announce 1,250 new jobs and a major investment Thursday at transmission and metal casting factories in the Kokomo, Indiana, area.

CEO Sergio Marchionne will confirm that the plans include an investment of $162 million and the creation 850 jobs at a former Getrag Transmission plant in nearby Tipton. Another 400 jobs will be created at three other factories.

The company is investing millions in the Kokomo area to build fuel-efficient eight- and nine-speed automatic transmissions.

Chrysler plans to use a new nine-speed transmission in the Jeep Cherokee midsize SUV and in the Dodge Dart compact. The Cherokee will replace the aging Jeep Liberty later this year.

Chrysler now has three transmission plants and a metal casting plant in the Kokomo area that employ about 6,100 people.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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