Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -MoneyTrend
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-17 10:39:29
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! (73)
Related
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- South Carolina Republicans weigh transgender health restrictions as Missouri sees similar bills
- Pakistan condemns Iran over bombing allegedly targeting militants that killed 2 people
- Contrails — the lines behind airplanes — are warming the planet. Could an easy AI solution be on the horizon?
- Sam Taylor
- Pakistani airstrikes on Iran killed 4 children and 3 women, a local official tells Iranian state TV
- Learn the 'TL;DR' meaning: Summarize information with this text slang.
- The surprising leader in EVs
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- Bachelor Nation's Sarah Herron Is Pregnant With Twins Nearly One Year After Son’s Death
Ranking
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Smashing Pumpkins reviewing over 10,000 applications for guitarist role
- Kendra Wilkinson Thought She Was Going to Die Amid Depression Battle
- Who is Jaish al-Adl, the Sunni group that Iran targeted in an airstrike on Pakistani soil?
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- Poland’s parliament votes to lift immunity of far-right lawmaker who extinguished Hanukkah candles
- Immigration issue challenges delicate talks to form new Dutch government
- Who is the Super Bowl 58 halftime show performer? What to know about this year's show
Recommendation
IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
Overdraft fees charged by banks would drop to as low as $3 under new Biden proposal
Get the Valentine’s Day Gifts You Actually Want by Sending Your Significant Other These Links
Iowa Republicans will use an app to transmit caucus results. Sound familiar?
A South Texas lawmaker’s 15
US pledges new sanctions over Houthi attacks will minimize harm to Yemen’s hungry millions
Man accused in murder of missing Montana woman Megan Stedman after motorhome found: Police
Spiritual adviser at first nitrogen gas execution asks Alabama for safeguards to protect witnesses