Current:Home > ScamsToyota to invest $922 million to build a new paint facility at its Kentucky complex -EverVision Finance
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-12 16:04:35
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! (731)
Related
- A South Texas lawmaker’s 15
- On sidelines of COP28, Emirati ‘green city’ falls short of ambitions, but still delivers lessons
- Teacher gifting etiquette: What is (and isn't) appropriate this holiday
- Tony Shalhoub returns as everyone’s favorite obsessive-compulsive sleuth in ‘Mr. Monk’s Last Case’
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- 55 cultural practices added to UNESCO's list of Intangible Cultural Heritage
- China says its warplanes shadowed trespassing U.S. Navy spy plane over Taiwan Strait
- Police in Dominica probe the killing of a Canadian couple who owned eco-resort
- The White House is cracking down on overdraft fees
- Nicki Minaj's bars, Barbz and beefs; plus, why 2023 was the year of the cowboy
Ranking
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Deemed Sustainable by Seafood Industry Monitors, Harvested California Squid Has an Unmeasurable Energy Footprint
- West Virginia appeals court reverses $7M jury award in Ford lawsuit involving woman’s crash death
- African bank accounts, a fake gold inheritance: Dating scammer indicted for stealing $1M
- The company planning a successor to Concorde makes its first supersonic test
- Pritzker signs law lifting moratorium on nuclear reactors
- A pregnant woman in Kentucky sues for the right to get an abortion
- Exclusive chat with MLS commish: Why Don Garber missed most important goal in MLS history
Recommendation
Buckingham Palace staff under investigation for 'bar brawl'
Inmate convicted of fatally stabbing another inmate at West Virginia penitentiary
AP PHOTOS: 2023 images show violence and vibrance in Latin America
It's official: Taylor Swift's Eras Tour makes history as first to earn $1 billion
The Super Bowl could end in a 'three
Migrants from around the world converge on remote Arizona desert, fueling humanitarian crisis at the border
As Pakistan cracks down on illegal migrants, nearly half a million Afghans have left, minister says
Vessel owner pleads guilty in plot to smuggle workers, drugs from Honduras to Louisiana