Chrysler to boost stake in Kokomo

Eight-speed transmission plant planned as company expands investment

December 14, 2010 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.