US auto maker Chrysler will invest about $374m to increase the production of transmissions in north-central Indiana, US.
Out of the total amount, the company will invest $212m in its Kokomo Transmission, Kokomo Casting and Indiana Transmission Plants, while the remaining $162m will be spent to build a new transmission assembly plant in Tipton.
Production of the eight- and nine-speed transmissions is expected to start in the second quarter 2013 at the plants, while new tooling and equipment will be installed in the fourth quarter 2013.
The company has also started production of the eight-speed transmission at its Kokomo plant, which will be used in the Jeep Grand Cherokee and Dodge Charger.
The Tipton plant is scheduled to start production of nine-speed transmission by the first quarter of 2014.
The company claims to have invested about $5.2b in its US facilities since June 2009.
