Chrysler Eyes Indiana

Automaker DaimlerChrysler AG’s discussions about developing a dual-clutch transmission with supplier Getrag has resulted in the German companies signing a non-binding agreement, DaimlerChrysler said this morning.

The Getrag project is part of a planned $3-billion investment in new engines, transmissions and drive trains to make vehicles more fuel-efficient, DaimlerChrysler said. Chrysler has relied on trucks and sport-utility vehicles to fuel profits—a failed strategy after gas prices spikes in the past couple of years.

Several Indiana communities—including Kokomo, Frankfort and Tipton and Miami counties—are vying to land any plant that might result, the Kokomo Tribune has reported. The $560 million facility might employ 1,200.

Source: IBJ Staff Full story