KOKOMO, Ind. - Chrysler Corp. plans to invest $477 million in a five-year modernization program at the Kokomo Transmission and Casting plants.
The program, along with Chrysler's new Indiana Transmission Plant, will bring recent investments in the Kokomo area to more $1.5 billion.
The Indiana Transmission Plant will begin production of the new fully electronic automatic transmissions in summer 1998. The 45RFE transmissions will be coupled with a new line of V-8 and V-6 engines developed by Chrysler for various Jeep and Dodge trucks.
Chrysler will hire 784 new workers in connection with the new investment. There are 7,400 Chrysler employees at three Kokomo area plants.