Current:Home > StocksSignalHub-Toyota to invest $922 million to build a new paint facility at its Kentucky complex -WealthRise Academy
SignalHub-Toyota to invest $922 million to build a new paint facility at its Kentucky complex
EchoSense Quantitative Think Tank Center View
Date:2025-04-06 19:33:38
GEORGETOWN,SignalHub 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! (28)
Related
- Trump invites nearly all federal workers to quit now, get paid through September
- Billions of Acres of Cropland Lie Within a New Frontier. So Do 100 Years of Carbon Emissions
- How a secret Delaware garden suddenly reemerged during the pandemic
- Remembering David Gilkey: His NPR buddies share stories about their favorite pictures
- The 401(k) millionaires club keeps growing. We'll tell you how to join.
- Big City Mayors Around the World Want Green Stimulus Spending in the Aftermath of Covid-19
- Every Time Lord Scott Disick Proved He Was Royalty
- ‘Extreme’ Iceberg Seasons Threaten Oil Rigs and Shipping as the Arctic Warms
- What to watch: O Jolie night
- Individual cigarettes in Canada will soon carry health warnings
Ranking
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Even the Hardy Tardigrade Will Take a Hit From Global Warming
- How Pruitt’s EPA Is Delaying, Weakening and Repealing Clean Air Rules
- Staying safe in smoky air is particularly important for some people. Here's how
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- In the Battle Over the Senate, Both Parties’ Candidates Are Playing to the Middle on Climate Change
- Dead Birds Washing Up by the Thousands Send a Warning About Climate Change
- Bumblebee Decline Linked With Extreme Heat Waves
Recommendation
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Worst Case Climate Scenario Might Be (Slightly) Less Dire Than Thought
Céline Dion Cancels World Tour Amid Health Battle
Two IRS whistleblowers alleged sweeping misconduct in the Hunter Biden tax investigation, new transcripts show
House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
Senate 2020: In Storm-Torn North Carolina, an Embattled Republican Tries a Climate-Friendly Image
This week on Sunday Morning (June 25)
Purple is the new red: How alert maps show when we are royally ... hued