Current:Home > reviewsToyota to invest $922 million to build a new paint facility at its Kentucky complex -FinanceMind
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
SafeX Pro Exchange View
Date:2025-04-07 19:13:27
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! (33)
Related
- Arkansas State Police probe death of woman found after officer
- Israel releases graphic video of Hamas terror attacks as part of narrative battle over war in Gaza
- Rachel Zegler Brings Haunting Hunger Games: Ballad of Songbirds & Snakes Songs to Life in Teaser
- Former Mississippi corrections officers get years in prison for beating prisoner
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- Rep. Jamaal Bowman pleads guilty to a misdemeanor for pulling a fire alarm in House office building
- Fearing airstrikes and crowded shelters, Palestinians in north Gaza defy Israeli evacuation orders
- Two Florida women claim $1 million prizes from state's cash-for-life scratch-off game
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- What we know about the mass shooting in Maine so far
Ranking
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- Fresh off a hearty Putin handshake, Orban heads into an EU summit on Ukraine
- Police in Illinois fatally shoot sledgehammer-wielding man after reported domestic assault
- Book excerpt: Let Us Descend by Jesmyn Ward
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- Fearing airstrikes and crowded shelters, Palestinians in north Gaza defy Israeli evacuation orders
- Imprisoned ‘apostle’ of Mexican megachurch La Luz del Mundo charged with federal child pornography
- Real Housewives of Beverly Hills' Dorit Kemsley Breaks Silence on PK Divorce Rumors
Recommendation
Trump wants to turn the clock on daylight saving time
Russian drone debris downed power lines near a Ukraine nuclear plant. A new winter barrage is likely
The Middle East crisis is stirring up a 'tsunami' of mental health woes
Medical school on Cherokee Reservation will soon send doctors to tribal and rural areas
Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
Professor who never showed up for class believed to be in danger: Police
The Masked Singer's Jenny McCarthy Is Totally Unrecognizable in Dumbledore Transformation
Two Florida women claim $1 million prizes from state's cash-for-life scratch-off game