Current:Home > NewsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Edge Finance Strategies
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-17 09:30:22
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! (86)
Related
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Know what dreamscrolling is? You're probably doing it.
- Federal rule on Title IX is a ruse to require trans sports participation, GOP states say
- Gabrielle Union and Dwyane Wade Shower Daughter Zaya With Love On Her 17th Birthday
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- BLM buys about 3,700 acres of land adjacent to Río Grande del Norte National Monument in New Mexico
- USA gymnastics championships: Brody Malone leads after first night for a major comeback
- Imprisoned former Ohio House Speaker Larry Householder pleads not guilty to new charges
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- National landmarks embody competing visions of America’s past | The Excerpt
Ranking
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Crews race to restore power across Texas ahead of another round of storms
- Just graduated from college? Follow these job-hunting tips from a career expert.
- Gypsy Rose Blanchard Gives Insight on Her Conversation With Kim Kardashian
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Man charged in AP photographer’s attack pleads guilty to assaulting officer during Capitol riot
- The Age of the Rhinestone Cowgirl: How Beyoncé brings glitz to the Wild Wild West
- Vermont governor vetoes pilot safe injection site intended to prevent drug overdoses
Recommendation
Don't let hackers fool you with a 'scam
The verdict: Inside the courtroom as Donald Trump learned he had been convicted
Not guilty plea for suspect in killing of nursing student found on University of Georgia campus
Notorious B.I.G.’s Mom Voletta Wallace Says She Wants to “Slap the Daylights” Out of Sean “Diddy” Combs
Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
Ryan Garcia's team blames raspberry lemonade supplement as one source of contamination
A necklace may have saved a man’s life by blocking a bullet
Nurse fired for calling Gaza war genocide while accepting compassion award