Chrysler announced that it will invest $843 million in its transmission-building plants in Kokomo, Ind., to make a new advanced front-wheel drive automatic transmission for future vehicles.
Chrysler’s total investment in U.S. plants will rise to almost $3 billion from June 2009.
Chrysler previously announced investments of $343 million in its Kokomo plants, making Kokomo the recipient of the largest investment -- $1.1 billion – in one year for one community.
Chrysler, though, is awaiting a tax abatement application's approval before the investment is official on Dec. 13, 2010. The investment would fund equipment to update the Indiana Transmission Plants and the Kokomo Casting Plant. The project would extend the life of the plants and help hold onto about 2,250 jobs.