Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -StockSource
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-17 16:20:32
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! (916)
Related
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- Family of student charged in beating death of Arizona teen Preston Lord accused of 'cover-up'
- Oakland A's to play 2025-27 seasons in Sacramento's minor-league park
- 'Great news': California snowpack above average for 2nd year in a row
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- Everything You Need To Get Your Feet Toe-tally Ready for Sandal Season
- Nebraska lawmakers to debate a bill on transgender students’ access to bathrooms and sports teams
- Lawsuit challenging Indiana abortion ban survives a state challenge
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- YouTuber Aspyn Ovard files for divorce; announces birth of 3rd daughter the same day
Ranking
- Dick Vitale announces he is cancer free: 'Santa Claus came early'
- Monday’s solar eclipse path of totality may not be exact: What to do if you are on the edge
- New Houston Texans WR Stefon Diggs' contract reduced to one season, per reports
- How Amanda Bynes Spent Her 38th Birthday—And What's Next
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Bachelor Nation's Daisy Kent Reveals Why She Turned Down the Opportunity to Be the Bachelorette
- 'Great news': California snowpack above average for 2nd year in a row
- LeBron James supports the women's game. Caitlin Clark says 'he's exactly what we need'
Recommendation
Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
Jax Taylor and Brittany Cartwright Reveal Why They Put 2-Year-Old Son Cruz in Speech Therapy
Knicks forward Julius Randle to have season-ending shoulder surgery
The Daily Money: Fewer of us are writing wills
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
'An incredible run': Gambler who hit 3 jackpots at Ceasars Palace wins another
Hawaii police officer who alleged racial discrimination by chief settles for $350K, agrees to retire
Judge rejects Trump’s First Amendment challenge to indictment in Georgia election case