Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Mastery Money Tools
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-14 14:12:20
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! (86222)
Related
- At site of suspected mass killings, Syrians recall horrors, hope for answers
- German prosecutors indict 27 people in connection with an alleged far-right coup plot
- NBC removes Al Michaels from NFL playoff coverage
- George Santos attorney expresses optimism about plea talks as expelled congressman appears in court
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- How Zach Edey, Purdue men's hoops star, is overcoming immigration law to benefit from NIL
- Are Macaulay Culkin and Brenda Song Married? Why Her Ring Finger Is Raising Eyebrows
- Baseball's first cheater? The story of James 'Pud' Galvin and testicular fluid
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- Polish far-right lawmaker extinguishes Hanukkah candle in parliament
Ranking
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- 3 Florida middle school students hospitalized after showing signs of possible overdose
- Polish far-right lawmaker extinguishes Hanukkah candle in parliament
- Baseball's first cheater? The story of James 'Pud' Galvin and testicular fluid
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- NBC removes Al Michaels from NFL playoff coverage
- Montana county to vote on removing election oversight duties from elected official
- A New UN “Roadmap” Lays Out a Global Vision for Food Security and Emissions Reductions
Recommendation
2025 'Doomsday Clock': This is how close we are to self
Biden will meet with families of Americans taken hostage by Hamas on Wednesday at the White House
Whitmer’s fight for abortion rights helped turn Michigan blue. She’s eyeing national impact now
Luna Luna: An art world amusement park is reborn
Nearly half of US teens are online ‘constantly,’ Pew report finds
Japan court convicts 3 ex-servicemen in sexual assault case brought by former junior soldier
The Fate of Love Is Blind Revealed
These 4 couponing apps could help keep consumers' wallets padded this holiday shopping season