Chrysler Invests an Additional $20M in New Transmission Manufacturing

It has been about two years since American auto maker Chrysler, made mentions that it would be investing $72-million in its Toledo Machining Plant to modify the production of its eight- and nine-speed torque-converters for automatic transmissions. Even though completion of this investment was slated to take place in the latter part of 2013, Chrysler published plans to increase the investment by $19.6-million to progress the nine-speeder capacity even further.

Scott Garberding, Senior Vice President of Manufacturing for Chrysler Group LLC., declares the significance of the project, stating, "The new nine-speed transmission is a critical part of our strategy to meet fuel economy requirements over the next several years and Toledo Machining will play an integral role in bringing this transmission to market. Securing this additional investment is a testament to the dedication and commitment of the plant's workforce and helps secure its future long-term."1

Increased supply will be necessary as Chrysler has scheduled three new nine-speed transmissions to be featured in the Chrysler 200, the 2014 Jeep Cherokee, and Dodge Dart. Chrysler also went as far as to forecast that it expects to move 200,000 units of these popular vehicles throughout 2013.

Modifications to the new factory is scheduled to begin in the third quarter of 2014, with a completion date sometime by the end of next year.

For more information regarding Chrysler, be it new model releases, awards, recalls and more, stay connected to the Spartanburg Chrysler Dodge Jeep blog.

Source: 1 http://www.autoblog.com/2013/04/28/chrysler-investing-20m-in-toledo-plant-to-support-9-speed-auto/

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