KOKOMO, Ind. (AP) — Automaker Stellantis plans to spend nearly $230 million on retooling three Indiana factories so they can produce transmission systems that work with both traditional gasoline-powered vehicles and gas-electric hybrid versions.
Company executives joined state and local officials in announcing the project Thursday at the Kokomo Transmission Plant. The investment by the company that combined Fiat Chrysler and Peugeot will also involve the Kokomo Casting and the Indiana Transmission plants in Kokomo.
The company in July outlined its plans to make a major push toward electric vehicles. Stellantis said the project would help retain roughly 660 jobs at the Kokomo plants, which now have about 6,000 workers.
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