Current:Home > FinanceToyota to invest $922 million to build a new paint facility at its Kentucky complex -TruePath Finance
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-21 07:43:21
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! (64)
Related
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- Minnesota trooper who shot Ricky Cobb II during traffic stop charged with murder
- Snoop Dogg’s Daughter Cori Broadus Released From Hospital After Severe Stroke
- 6-legged dog abandoned at grocery successfully undergoes surgery to remove extra limbs
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Fendi caps couture with futurism-tinged ode to Lagerfeld at Paris Fashion Week
- Doomsday clock time for 2024 remains at 90 seconds to midnight. Here's what that means.
- For 1 in 3 Americans, credit card debt outweighs emergency savings, report shows
- Dick Vitale announces he is cancer free: 'Santa Claus came early'
- China accuses US of ‘abusing’ international law by sailing in Taiwan Strait and South China Sea
Ranking
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- A separatist rebel leader in Ukraine who called Putin cowardly is sentenced to 4 years in prison
- Calling All Cupids: Anthropologie’s Valentine’s Day Shop Is Full of Date Night Outfits & More Cute Finds
- Philadelphia prisoner being held on murder charge escapes, police warn public
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- Pakistan must invest in climate resilience to survive, says prime ministerial hopeful Bhutto-Zardari
- Philadelphia prisoner being held on murder charge escapes, police warn public
- Arizona GOP Chairman Jeff DeWit resigns after leaked tape showed him floating a job for Kari Lake to skip Senate race
Recommendation
Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
Chiefs vs. Ravens AFC championship game weather forecast: Rain expected all game
Florida board bans use of state, federal dollars for DEI programs at state universities
Man's dismembered body found in Brooklyn apartment refrigerator, woman in custody: Reports
NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
This plant and these animals could be added to the Endangered Species Act
14 states are cutting individual income taxes in 2024. Here are where taxpayers are getting a break.
Fans raise $260,000 for cat adoption charity in honor of Buffalo Bills kicker Tyler Bass, following missed field goal