Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -WealthRise Academy
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-16 01:05:29
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! (7)
Related
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- What Justin Timberlake Told Police During DWI Arrest
- Kourtney Kardashian and Travis Barker Channeling Forrest Gump Is Sweeter Than a Box of Chocolates
- Syracuse house collapse injures 13; investigation ongoing
- Retirement planning: 3 crucial moves everyone should make before 2025
- Out of Site, Out of Mind? New Study Finds Missing Apex Predators Are Too Often Neglected in Ecological Research
- Jury deliberates in state case against man who attacked Nancy Pelosi’s husband with hammer
- NFL offseason grades: Bears earn top team mark as Cowboys trail rest of class
- Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
- Detroit Pistons fire coach Monty Williams after one season that ended with NBA’s worst record
Ranking
- Travis Hunter, the 2
- Why Pregnant Francesca Farago Recommends Having a Baby With a Trans Man
- Biden is offering some migrants a pathway to citizenship. Here’s how the plan will work
- 18 million Americans are house poor, new study shows
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- 41-year-old man dies near bottom of Grand Canyon after overnighting in the park
- Reaction to the death of Willie Mays, ‘a true Giant on and off the field’
- Atlantic season's first tropical storm, Alberto, expected to form over Gulf Wednesday
Recommendation
Former Danish minister for Greenland discusses Trump's push to acquire island
Colombian family’s genes offer new clue to delaying onset of Alzheimer’s
Noam Chomsky’s wife says reports of famed linguist’s death are false
Pacers, Pascal Siakam to agree to 4-year max contract, per report
The Super Bowl could end in a 'three
Thailand’s Senate overwhelmingly approves a landmark bill to legalize same-sex marriages
More Musiala magic sees Germany beat Hungary 2-0 and reach Euro 2024 knockout stage
Cheer on Team USA for the 2024 Paris Olympics with These Très Chic Fashion Finds