Current:Home > FinanceToyota 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:2025-04-17 12:00:35
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! (83422)
Related
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Guantanamo judge rules 9/11 defendant unfit for trial after panel finds abuse rendered him psychotic
- Biden deal with tribes promises $200M for Columbia River salmon reintroduction
- 'Dangerous' convicted child sex offender who escaped Missouri hospital captured by authorities
- 2025 'Doomsday Clock': This is how close we are to self
- Cyprus calls on the EU to rethink Syrian safe zones for eventually repatriating Syrian migrants
- 'Welcome to freedom': Beagles rescued from animal testing lab in US get new lease on life in Canada
- It's a love story, baby just say yes: Taylor Swift and Travis Kelce, the couple we need
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- Man charged with murder for killing sister and 6-year-old niece in head-on car crash
Ranking
- The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
- Love Is Blind’s Natalie and Deepti Reveal Their Eye-Popping Paychecks as Influencers
- It's a kayak with a grenade launcher. And it could be game-changer in Ukraine.
- High-speed trains begin making trip between Orlando and Miami
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- Guantanamo judge rules 9/11 defendant unfit for trial after panel finds abuse rendered him psychotic
- It's a kayak with a grenade launcher. And it could be game-changer in Ukraine.
- Judge to hear arguments for summary judgment in NY AG's $250M lawsuit against Trump
Recommendation
Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
Tropical Storm Ophelia heads for the East Coast after a surprising, confusing start.
Dwyane Wade Reflects on Moment He Told Gabrielle Union He Was Having a Baby With Another Woman
Stock market today: Asian shares mixed after interest rates-driven sell-off on Wall Street
Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
Sabato De Sarno makes much anticipated debut at Gucci under the gaze of stars like Julia Roberts
Australia’s government posts $14.2 billion budget surplus after 15 years in the red
NBA to crack down on over-the-top flopping