Current:Home > InvestToyota 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
View
Date:2025-04-17 01:26:48
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! (3927)
Related
- Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor
- California dolphins were swimming in magical waves with a beautiful blue glow. Here's what caused it.
- Taking a Look Back at Hugh Jackman and Deborra-Lee Furness' Great Love Story
- New Mexico governor amends order suspending right to carry firearms to focus on parks, playgrounds
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- Here's the top country for retirement. Hint: it's not the U.S.
- Biden set for busy week of foreign policy, including talks with Brazil, Israel and Ukraine leaders
- U.S. ambassador to Russia visits jailed WSJ reporter Evan Gershkovich
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- Video appears to show Rep. Lauren Boebert vaping at ‘Beetlejuice’ show before she was ejected
Ranking
- Current, future North Carolina governor’s challenge of power
- TikToker Levi Jed Murphy Reveals Why He's Already Ready for His Fifth Round of Plastic Surgery
- Lionel Messi, Inter Miami face Atlanta United in MLS game: How to watch
- One American, two Russians ride Russian capsule to the International Space Station
- Federal appeals court upholds $14.25 million fine against Exxon for pollution in Texas
- Biden announces more Iran sanctions on anniversary of Mahsa Amini death
- New York City mayor gives Sean ‘Diddy’ Combs a key to the city during a ceremony in Times Square
- Ukrainian President Volodymyr Zelenskyy to meet with Biden in U.S. next week
Recommendation
NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
Moose tramples hiker along Colorado trail, officials remind hikers to keep safe distance
Michigan man cleared of killing 2 hunters to get $1 million for wrongful convictions
Ole Miss player DeSanto Rollins files lawsuit against football coach Lane Kiffin, university
Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
Colorado mountain tied to massacre renamed Mount Blue Sky
Howard Schultz, former Starbucks CEO, retires from coffee chain's board of directors
National Hispanic Heritage Month highlights cultural diversity of Spanish-speaking Americans