Current:Home > FinanceToyota to invest $922 million to build a new paint facility at its Kentucky complex -EquityZone
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-24 06:45:14
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! (347)
Related
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- Criticism mounts against Venezuela’s Maduro and the electoral council that declared him a victor
- Nebraska teen accused of causing train derailment for 'most insane' YouTube video
- What's on board Atlas V? ULA rocket launches on classified Space Force mission
- Grammy nominee Teddy Swims on love, growth and embracing change
- US suspends $95 million in aid to Georgia after passage of foreign agent law that sparked protests
- Powerball winning numbers for July 29 drawing: Jackpot rises to $154 million
- Democrats look to longtime state Sen. Cleo Fields to flip Louisiana congressional seat blue
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- Microsoft’s cloud business powers 10% growth in quarterly profits
Ranking
- Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
- Court holds up Biden administration rule on airline fees while the carriers sue to kill it
- Interest rate cut coming soon, but Fed likely won't tell you exactly when this week
- Georgia’s largest school district won’t teach Black studies course without state approval
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- San Francisco police and street cleaners take aggressive approach to clearing homeless encampments
- USA soccer advances to Olympics knockout round for first time since 2000. How it happened
- Norah O’Donnell leaving as anchor of CBS evening newscast after election
Recommendation
What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
US suspends $95 million in aid to Georgia after passage of foreign agent law that sparked protests
Two sets of US rowers qualify for finals as lightweight pairs falls off
Louisiana cleaning up oil spill in Lafourche Parish
The Daily Money: Spending more on holiday travel?
Boeing names new CEO as it posts a loss of more than $1.4 billion in second quarter
Firefighters make progress against massive blaze in California ahead of warming weather
4 Suspects Arrested and Charged With Murder in Shooting Death of Rapper Julio Foolio