Current:Home > MarketsToyota 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:2025-04-19 20:21:52
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! (52)
Related
- 'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
- No. 3 Michigan beats No. 2 Ohio State 30-24 for 3rd straight win in rivalry
- Officials in Texas investigating the death of a horse killed and dumped on Thanksgiving
- Beyoncé films to watch ahead of 'Renaissance' premiere
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- Flight data recorder recovered from US Navy plane that overshot the runway near Honolulu
- Irregular meals, benches as beds. As hostages return to Israel, details of captivity begin to emerge
- Pope Francis has a hospital checkup after coming down with the flu
- Trump wants to turn the clock on daylight saving time
- Teenage murder suspect escapes jail for the second time in November
Ranking
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- Alex Smith roasts Tom Brady's mediocrity comment: He played in 'biggest cupcake division'
- Barnes’ TD, Weitz three field goals lift Clemson to 16-7 victory over rival South Carolina
- No. 3 Michigan beats No. 2 Ohio State 30-24 for 3rd straight win in rivalry
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- Explosions at petroleum refinery leads to evacuations near Detroit
- Dallas Cowboys Quarterback Dak Prescott and Sarah Jane Ramos Expecting First Baby
- Criminals are using AI tools like ChatGPT to con shoppers. Here's how to spot scams.
Recommendation
Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
Global watchdog urges UN Security Council to consider all options to protect Darfur civilians
China says a surge in respiratory illnesses is caused by flu and other known pathogens
Bryan Adams says Taylor Swift inspired him to rerecord: 'You realize you’re worth more'
Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
Beyoncé films to watch ahead of 'Renaissance' premiere
Schools in Portland, Oregon, reach tentative deal with teachers union after nearly month-long strike
Stock market today: Asian shares mostly decline, as investors watch spending, inflation