Current:Home > InvestToyota to invest $922 million to build a new paint facility at its Kentucky complex -OceanicInvest
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-24 08:56:57
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! (851)
Related
- 2 killed, 3 injured in shooting at makeshift club in Houston
- 'When Calls the Heart' star Mamie Laverock placed on life support following 5-story fall
- Biden campaign sends allies De Niro and first responders to Trump’s NY trial to put focus on Jan. 6
- American arrested in Turks and Caicos over 9 mm ammo found in bag sentenced to time served and $9,000 fine
- This was the average Social Security benefit in 2004, and here's what it is now
- What's open on Memorial Day 2024? Hours and details on Walmart, Costco, Starbucks, restaurants, stores
- Retailers roll out summer deals for inflation-weary consumers. Here's where.
- Parents of Aurora Masters, 5-year-old killed in swing set accident, want her to be remembered
- What do we know about the mysterious drones reported flying over New Jersey?
- Volkswagen, Mazda, Lamborghini, Kia among 94,000 vehicles recalled: Check car recalls here
Ranking
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- Ryan Salame, part of the ‘inner circle’ at collapsed crypto exchange FTX, sentenced to prison
- Ja’Marr Chase, Tee Higgins absent as Cincinnati Bengals begin organized team activities
- Three people shot to death in tiny South Dakota town; former mayor charged
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- Stewart-Haas Racing to close NASCAR teams at end of 2024 season, says time to ‘pass the torch’
- Black Hills highway closure to upend summer holiday traffic
- Natural gas explosion damages building in Ohio city, no word yet on injuries
Recommendation
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
OpenAI CEO Sam Altman joins Giving Pledge, focusing his money on tech that ‘helps create abundance’
University of Florida employee, students implicated in illegal plot to ship drugs, toxins to China
7 shot, 17-year-old boy dead and 1 left in critical condition in Michigan shooting: police
Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
Seattle Kraken hire Dan Bylsma as franchise's second head coach
Albert Ruddy, Oscar-winning producer of The Godfather, dies at 94
Heather Dubrow Reveals Husband Terry Dubrow's New Mounjaro-Inspired Career Move