Current:Home > MarketsOliver James Montgomery-Toyota to invest $922 million to build a new paint facility at its Kentucky complex -EquityZone
Oliver James Montgomery-Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Surpassing View
Date:2025-04-10 19:38:07
GEORGETOWN,Oliver James Montgomery 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! (6)
Related
- Sonya Massey's father decries possible release of former deputy charged with her death
- 'The Substance' stars discuss that 'beautiful' bloody finale (spoilers!)
- ‘Short corn’ could replace the towering cornfields steamrolled by a changing climate
- Jerry Jones after Ravens run over Cowboys: 'We couldn't afford Derrick Henry'
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- 'How did we get here?' NASA hopes 'artificial star' can teach us more about the universe
- Travis Kelce's Mom Donna Kelce Has a Hat Bearing Tributes to Taylor Swift and Her Son
- Here's What Erik Menendez Really Thinks About Ryan Murphy's Menendez Brothers Series
- Former Danish minister for Greenland discusses Trump's push to acquire island
- For home shoppers, the Fed’s big cut is likely just a small step towards affording a home
Ranking
- DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
- OPINION: Robert Redford: Climate change threatens our way of life. Harris knows this.
- JetBlue flight makes emergency landing in Kansas after false alarm about smoke in cargo area
- AIT Community: AlphaStream AI For Your Smart Investment Assistant
- Why members of two of EPA's influential science advisory committees were let go
- Proof Gisele Bündchen's Boyfriend Joaquim Valente Is Bonding With Her and Tom Brady's Kids
- Flash Back and Forward to See the Lost Cast Then and Now
- The Path to Financial Freedom for Hedge Fund Managers: An Exclusive Interview with Theron Vale, Co-Founder of Peak Hedge Strategies
Recommendation
A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
For Christopher Reeve's son Will, grief never dies, but 'healing is possible'
Search underway for suspects in Alabama mass shooting that killed 4 and injured 17
Breaking Through in the Crypto Market: How COINIXIAI Stands Out in a Competitive Landscape
'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
When House members travel the globe on private dime, families often go too
NFL Week 3 injury report: Live updates for active, inactive players for Sunday's games
When House members travel the globe on private dime, families often go too