Chrysler said it will invest $19.6 million in its Toledo Machining Plant in Perrysburg, Ohio, to increase capacity for production of torque converters for new generation, fuel-efficient nine-speed transmission.
The new torque converters will be paired with the next generation, fuel efficient nine-speed front-wheel drive transmission being assembled at Chrysler’ Indiana Transmission Plant I, Chrysler said.
The new transmission will debut in the 2014 Jeep Cherokee.
The investment will fund the installation of new equipment and tooling for additional machining and assembly capacity.
Installation is expected to begin in the third quarter of 2014 and will be completed by the end of 2014.
In August 2011, Chrysler announced a $72 million investment in Toledo plant to modernize the plant to produce the eight- and nine-speed torque converters on two new production lines and a new steering column for the Dodge Dart and Jeep Cherokee. These installations will be complete in the third quarter this year.
In February, Chrysler announced that it was investing $374 million in several of its Kokomo, Ind., facilities, including establishing a new manufacturing site in Tipton, Ind., to increase production capacity of the nine-speed transmission.
“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,” said Scott Garberding, senior vice president, manufacturing, Chrysler Group.
