Current:Home > MarketsToyota 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 14:56:31
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! (8329)
Related
- Questlove charts 50 years of SNL musical hits (and misses)
- Feds indict 23 for using drones to drop drugs and cell phones into Georgia prisons
- Wall Street’s next big test is looming with Nvidia’s profit report
- A 2nd ex-Memphis officer accused in the fatal beating of Tyre Nichols is changing his plea
- SFO's new sensory room helps neurodivergent travelers fight flying jitters
- US home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
- Is Beyoncé Performing at the DNC? Here's the Truth
- Workers at Canadian National Railway Co. will start returning to work Friday, union says
- Federal hiring is about to get the Trump treatment
- 'Ben Affleck, hang in there!' Mindy Kaling jokes as Democratic National Convention host
Ranking
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- X's initial shareholder list unveiled: Sean 'Diddy' Combs, Jack Dorsey, Bill Ackman tied to platform
- Weight loss drugs sold online offer cheaper alternative to Ozempic, Wegovy. Are they safe?
- Jobs report revision: US added 818,000 fewer jobs than believed
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- 'SNL' star Punkie Johnson reveals why she left the show
- California woman fed up with stolen mail sends Apple AirTag to herself to catch thief
- Judge Mathis' Wife Linda Files for Divorce After 39 Years of Marriage
Recommendation
Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
A 2nd ex-Memphis officer accused in the fatal beating of Tyre Nichols is changing his plea
AP Week in Pictures: Global
Teen sues Detroit judge who detained her after falling asleep during courtroom field trip
Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
Miami (Ohio) coach Chuck Martin says Alabama ‘stole’ kicker Graham Nicholson
What’s for breakfast? At Chicago hotel hosting DNC event, there may have been mealworms
Superyacht maker's CEO: Bayesian's crew made an 'incredible mistake'