Verbatim from City of Kokomo news release.
Chrysler CEO Sergio Marchionne was joined today by Indiana Governor Mike Pence, Kokomo Mayor Greg Goodnight and Tipton Mayor Don Havens at a press conference held at the Kokomo Transmission Plant.
Marchionne confirmed plans to continue investing $212 million in new manufacturing equipment at its four transmission production facilities in Kokomo and invest $162 million in a new transmission manufacturing plant near Tipton.
Chrysler anticipates hiring over 1,200 new workers to meet the company’s production demand for its new eight- and nine-speed automatic transmissions.
“Chrysler’s future and the future of North Central Indiana are tied together, and that future has never looked brighter,” said Kokomo Mayor Greg Goodnight. “Today’s announcement is a product of Mr. Marchionne’s World Class Manufacturing approach that emphasizes quality in all aspects of operations. He has developed a partnership with the UAW, Chrysler as well as state and local officials to revitalize this company, and it shows. It’s seen in the workers’ pride on the factory floors and in the showrooms where sales of Chrysler automobiles outpace competitors.”
The eight and nine speed transmissions, produced exclusively in North Central Indiana, will help Chrysler increase fuel efficiency and reduce emissions in order to meet proposed U.S. rules requiring automakers to increase gas mileage to 54.5 miles per gallon by 2025.