Chrysler Plans To Invest 85M In Kokomo Plant

Chrysler Group LLC plans to invest an additional $85 million in its Kokomo, Indiana, transmission plant.

 The money is in addition to the recently announced $1.2 billion investment in other facilities in the north-central Indiana city.

The company's total investment in U.S. facilities would climb to more than $3 billion since June 2009.Chrysler notified Kokomo city officials of the potential new investment at a city council meeting on Monday.

Chrysler requested the transfer of the previously approved tax abatement certificate on the announced $300 million investment from the Indiana Transmission Plant I to the Kokomo Transmission Plant to facilitate the production of the next generation eight-speed transmissions.

(Copyright 2010. WWJ Newsradio 950. The Associated Press Contributed To This Story)