Plans have been announced for Chrysler Holdings, LLC and Getrag to build a dual-clutch transmissions plant on a 145-acre site north of Indianapolis in Tipton County, Indiana.

The joint venture, announced by Richard Chow-Wah, Chrysler Group Vice President and Indiana Governor Mitch Daniels is another element of the automaker's "Powertrain Offensive," a series of investments totaling $3 billion to develop and to produce efficient engines, transmissions, and axles.

Chow-Wah thanked state and local officials for their help in securing the plant. "Together with our new partner, Getrag, our combined $530 million investment in Tipton will create a state-of-the art facility to manufacture fuel-efficient, dual-clutch transmissions and reaffirm our long-term commitment to producing vehicles that meet and exceed consumers' demands for more economical-to-operate vehicles."

Construction on the Indiana installation will begin at the end of June. The plant will be staffed by more than a thousand workers who will annually produce approximately 700,000 dual-clutch gearboxes.

General Holiefield, United Auto Workers Vice President and director of the union's DaimlerChrysler Department praised the venture. "This investment is a significant step toward realizing our vision to see this company and our union grow this business and transform Chrysler into a stronger company that will be competitive for the long run."

The Chrysler / Getrag partnership is the third major automotive venture for the state in recent months, including a plant near Princeton that manufactures Toyota Tundra trucks and a Honda site near Greensburg to build four-cylinder vehicles.