Chrysler to boost stake in Kokomo

Eight-speed transmission plant planned as company expands investment

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Freep.com is reporting Chrysler is making an additional investment in its Kokomo, IN transmission plant. The automaker plans to build an eight-speed transmission at their plant, adding an $85 million investment to the $1.2 million Chrysler will spend in Kokomo to build a front-wheel drive transmission.

Chrysler will receive a tax abatement, approved this week by the Kokomo City Council, on the investment for that part of the facility, according to the report.