Current:Home > InvestToyota 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:2025-04-14 07:49:50
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! (3464)
Related
- The Super Bowl could end in a 'three
- Why Simone Biles is leaving the door open to compete at 2028 Olympics: 'Never say never'
- U.S. defense secretary rejects plea deal for 9/11 mastermind, puts death penalty back on table
- Megan Thee Stallion hits back at Kamala Harris rally performance critics: 'Fake Mad'
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- Terence Crawford vs. Israil Madrimov live updates: How to watch, predictions, analysis
- Pro Football Hall of Fame ceremony: Class of 2024, How to watch and stream, date, time
- Caeleb Dressel isn't the same swimmer he was in Tokyo but has embraced a new perspective
- Trump's 'stop
- 3 dead including white supremacist gang leader, 9 others injured in Nevada prison brawl
Ranking
- In ‘Nickel Boys,’ striving for a new way to see
- Boxing fiasco sparks question: Do future Olympics become hunt for those who are different?
- Katie Ledecky cements her status as Olympic icon with 9th gold, 12 years after her first
- Katie Ledecky makes Olympic history again, winning 800m freestyle gold for fourth time
- The Super Bowl could end in a 'three
- Florida deputy killed and 2 officers wounded in ambush shooting, police say
- Police search huge NYC migrant shelter for ‘dangerous contraband’ as residents wait in summer heat
- 'This can't be right': Big sharks found in waters far from the open ocean
Recommendation
What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
How Team USA's Daniela Moroz can put a bow on her parents' American dream
Olympic women's soccer bracket: Standings and how to watch Paris Olympics quarterfinals
Millie Bobby Brown Shares Sweet Glimpse Into Married Life With Jake Bongiovi
From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
Taking Over from the Inside: China’s Growing Reach Into Local Waters
Federal judge rules that Florida’s transgender health care ban discriminates against state employees
Aerosmith retires from touring permanently due to Steven Tyler injury: Read full statement