Stellantis is investing a total of $229 million in three of its Kokomo, Indiana, plants to help the company reach its goal of achieving 40% low-emission vehicle sales in the U.S. by 2030, the company announced. This announcement comes three months after the company laid out its long-term electrification strategy, where it committed to investing $35 billion through 2025 in electrification and software.
The investment will support retooling of the Kokomo Transmission (KTP), Kokomo Casting and Indiana Transmission plants to produce the fourth-generation eight-speed transmission. This new transmission will be paired with internal combustion engines, as well as mild hybrid and plug-in hybrid propulsion systems, for vehicles across the Jeep, Ram, Chrysler and Dodge brands. It will deliver improved fuel economy, provide pure-electric range and help vehicles meet future emission regulations, the company said.
“This investment and this transmission represent an important stepping stone in getting us to 2030 and further expanding our battery electric offerings,” said Clark. “This new eight-speed is the ‘multi-tool’ of transmissions. It is a versatile transmission that can be adapted for a variety of applications, allowing us the flexibility to adjust our production as consumer demand for electrified vehicles grows over the next decade. It also offers consumers the opportunity to get familiar with this technology and explore all of the benefits that can come from electrification.”