Current:Home > FinanceToyota to invest $922 million to build a new paint facility at its Kentucky complex -WealthSphere Pro
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-18 03:31:33
GEORGETOWN, Ky. (AP) — Toyota said Thursday it will build a new paint facility as part of a $922 million investment at its factory complex in Georgetown, Kentucky, making it the second big addition announced this year at the automaker’s largest global manufacturing plant.
In February, the company said it would invest $1.3 billionat its Kentucky complex, in part so it can build an all-new three-row electric SUV to be sold in the U.S.
Neither project will add any new jobs at the facility, which now employs about 10,000 workers. However, the investments reinforce Toyota’s commitment to long-term job stability, the company said.
The new paint facility, scheduled to open in 2027, will add 1 million square feet of capacity while decreasing carbon emissions by 30% and water usage by 1.5 million gallons per year, Toyota said.
It will enable the company to offer more diverse color options for its vehicles, the company said.
“Toyota’s commitment to advanced paint technologies goes beyond aesthetics,” said Kerry Creech, president of Toyota Kentucky. “It encompasses efficiency, sustainability and quality, leading the industry in environmentally responsible manufacturing.”
The project also will increase flexibility for future vehicle production and advances Toyota’s goal to achieve zero carbon emissions by 2050, the automaker said.
Toyota’s investment in the Bluegrass State has surpassed $11 billion since breaking ground at the central Kentucky site in 1986. Georgetown is 16 miles (26 kilometers) north of Lexington, Kentucky.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (81156)
Related
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- Bachelorette Jenn Tran Slams One of Her Suitors for His “Blatant Disrespect” to the Other Men
- Taylor Swift's childhood vacation spot opens museum exhibit with family photos
- Nationals' Dylan Crews makes MLB debut on LSU teammate Paul Skenes' heels
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- 'Only Murders' doesn't change at all in Season 4. Maybe that works for you!
- Old Navy Shoppers Rave That This Denim Jacket Looks More Expensive Than It Is & It’s on Sale for $30
- Gwyneth Paltrow Gives Rare Look at Son Moses Before He Heads to College
- The Best Stocking Stuffers Under $25
- San Diego police officer killed and another critically injured in crash with fleeing car
Ranking
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- California police recover 'abandoned' 10-foot python from vehicle after police chase
- Travis Kelce and Jason Kelce Score Eye-Popping Podcast Deal Worth at Least $100 Million
- Princess Kate seen in rare outing for church service in Scotland
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- Christina Hall Lasers Off Tattoo on Wedding Ring Finger Amid Josh Hall Divorce
- Defense attorney for Florida deputy charged in airman’s death is a former lawmaker and prosecutor
- Nick Chubb to remain on Browns' PUP list to continue rehab from devastating knee injury
Recommendation
FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
Former North Dakota federal prosecutor who handled Peltier, Medina shootout cases dies
Going local: A new streaming service peeks into news in 2024 election swing states
Russia’s deadly overnight barrage of missiles and drones hits over half of Ukraine, officials say
Stamford Road collision sends motorcyclist flying; driver arrested
How many points did Caitlin Clark score today? Rookie overcomes injury scare in victory
As NFL's ultimate kickoff X-factor, Cordarrelle Patterson could produce big returns for Steelers
'Pharma Bro' Martin Shkreli ordered to hand over copies of Wu-Tang Clan's unreleased album