Current:Home > StocksToyota 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
SignalHub View
Date:2025-04-08 17:39:39
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! (49451)
Related
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Nordstrom's Epic 70% Off Spring Sale Ends Today: Shop Deals From Madewell, Free People, Open Edit & More
- Grab your camera and help science! King tides are crashing onto California beaches
- U.N. chief calls for international police force in Haiti to break stranglehold of armed gangs
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- Biden calls for higher fees for oil, gas leasing on federal land, stops short of ban
- See Denise Richards on Rare Outing With Lookalike Daughter Lola Sheen
- Saudi Arabia pledges net-zero greenhouse gas emissions by 2060
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- Who pays for climate change?
Ranking
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Love Is Blind Star Bartise Bowden Welcomes First Baby
- Nick Cannon Speaks Now About Desire to Have Baby No. 13 With Taylor Swift
- The fossil fuel industry turned out in force at COP26. So did climate activists
- The Daily Money: Spending more on holiday travel?
- A 15-year-old girl invented a solar ironing cart that's winning global respect
- Love Is Blind Star Bartise Bowden Welcomes First Baby
- In Iraq's famed marshlands, climate change is upending a way of life
Recommendation
Bodycam footage shows high
For World Health Day 2023, Shop These 17 Ways to Enhance Your Self Care Routine
Khloe Kardashian Subtly Supports Tristan Thompson’s NBA Career After He Signs With Lakers
3 killed, 17 wounded from Russian attacks in Ukraine
What do we know about the mysterious drones reported flying over New Jersey?
Hurry to Coach Outlet's 70% Off Limited-Time Sale for Trendy Tote Bags, Wallets & More Starting at $26
Russia hints at contacts in progress with U.S. on potential prisoner swap
Shakira Asks for Privacy for Her and Gerard Piqué's Sons After Difficult Year