Current:Home > NewsToyota to invest $922 million to build a new paint facility at its Kentucky complex -FundSphere
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-15 04:25:41
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! (879)
Related
- Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
- Slim majority wants debt ceiling raised without spending cuts, poll finds
- The man who busted the inflation-employment myth
- CoCo Lee Reflected on Difficult Year in Final Instagram Post Before Death
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Report: 20 of the world's richest economies, including the U.S., fuel forced labor
- A lot of offices are still empty — and it's becoming a major risk for the economy
- One Year Later: The Texas Freeze Revealed a Fragile Energy System and Inspired Lasting Misinformation
- Trump wants to turn the clock on daylight saving time
- Biden’s Been in Office for More Than 500 Days. He Still Hasn’t Appointed a Top Official to Oversee Coal Mine Reclamation
Ranking
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- Olivia Culpo Shares Glimpse Inside Her and Fiancé Christian McCaffrey's Engagement Party
- Overwhelmed by Solar Projects, the Nation’s Largest Grid Operator Seeks a Two-Year Pause on Approvals
- Supreme Court unanimously sides with Twitter in ISIS attack case
- A White House order claims to end 'censorship.' What does that mean?
- In Climate-Driven Disasters, Older People and the Disabled Are Most at Risk. Now In-Home Caregivers Are Being Trained in How to Help Them
- Selling Sunset's Amanza Smith Finally Returns Home After Battle With Blood Infection in Hospital
- Tom Holland Says His and Zendaya’s Love Is “Worth Its Weight In Gold”
Recommendation
Travis Hunter, the 2
Germany's economy contracts, signaling a recession
Study Underscores That Exposure to Air Pollution Harms Brain Development in the Very Young
In a historic step, strippers at an LA bar unionize
Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
1000-Lb. Sisters' Tammy Slaton Shares Tearful Update After Husband Caleb Willingham's Death
At COP27, an 11th-Hour Deal Comes Together as the US Reverses Course on ‘Loss and Damage’
US Firms Secure 19 Deals to Export Liquified Natural Gas, Driven in Part by the War in Ukraine
Like
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- The latest workers calling for a better quality of life: airline pilots
- At COP27, the US Said It Will Lead Efforts to Halt Deforestation. But at Home, the Biden Administration Is Considering Massive Old Growth Logging Projects