ZF to Invest $215 million to Build 8- and 9-speed Transmissions in S.C.

 German supplier ZF Friedrichshafen AG said today it will expand a plant here that just started producing fuel-saving 8- and 9-speed automatic transmissions last month.

ZF plans to spend $215 million on the factory expansion, boosting output 50 percent from 800,000 units annually and raising its total investment in the site to $600 million.

"We will be increasing the existing footprint by almost half," said ZF CEO Stefan Sommer. "By 2016, a total of around 1.4 million square feet will be available so customers can be adequately served; consequently, the number of employees is expected to increase from 1,200 to 1,650."

For its 8-speed automatic, ZF already has signed up Audi, BMW, Jeep, Jaguar and Land Rover. The 9-speed automatic transmission -- the world"s first -- will be used in the new Jeep Cherokee and Land Rover Evoque. The 9-speed transmission can improve fuel economy by as much as 16 percent, ZF claims.