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Chrysler investing $20M in Toledo plant to support 9-speed auto production

In 2011, Chrysler announced a $72-million investment in its Toledo Machining Plant to modernize production of the eight- and nine-speed torque-converters for automatic transmissions made there. That upgrade work won't be finished until Q3 of this year, but Chrysler has already announced a further $19.6-million investment to increase production capacity for the nine-speeders.
The extra units will be necessary because the nine-speed transmission they'll be mated to is going into three popular models: it will debut on the 2014 Jeep Cherokee, then go into the Chrysler 200 and Dodge Dart. The company predicted that this year alone it would sell 200,000 units equipped with the nine-speed tranny, and it is spending some $374 million in addition to the investment in Toledo to upgrade production capacity for it.
The work attached to this new investment won't begin until Q3 of 2014, and it will be finished by the end of that year. There's a press release below with all the details.

Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall

Vin Diesel reveals first poster for Furious 8

Vin Diesel unveiled the first poster for Furious 8. The image shows Dom standing on a deserted road with his Dodge Charger with the tagline: "New roads ahead." Diesel's post doesn't offer any other new details about the much-anticipated action film, which is still a year away from theaters. While this image is teasing, we continue to get a better idea of Furious 8's cast. Scott Eastwood, Clint Eastwood's son, has a prominent role in the film, and Charlize Theron plays a villain. Dwayne Johnson also confirmed his return as Hobbs. Plot details still vague, though. An earlier teaser from Diesel hinted that some of the movie might take place in Manhattan, which could be an amazing setting for automotive stunts. The crew has also been filming north of Reykjavik, Iceland, which would be a great locale for off-road action. Furious 8 will hit theaters on April 14, 2017. According to Diesel, part 9 will arrive on April 19, 2019, and Fast & Furious 10 will potentially end the main franchise on April 2, 2021. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video: