Current:Home > InvestToyota to invest $922 million to build a new paint facility at its Kentucky complex -StockSource
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-14 19:36:56
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! (114)
Related
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Tiger Woods' Masters tee times, groupings for first two rounds at Augusta National
- The online eclipse experience: People on X get creative, political and possibly blind
- Bachelor Nation’s Trista Sutter Shares Update on Husband Ryan Sutter's Battle With Lyme Disease
- Highlights from Trump’s interview with Time magazine
- Look up, then look down: After the solar eclipse, a double brood of cicadas will emerge
- What does a solar eclipse look like from Mars? NASA shares photos ahead of April 8 totality
- Doctors take on dental duties to reach low-income and uninsured patients
- New data highlights 'achievement gap' for students in the US
- Katt Williams cuts comedy show short by fight: Couple explains date night turned brawl
Ranking
- Meta releases AI model to enhance Metaverse experience
- James and Jennifer Crumbley, parents of Michigan shooter, to be sentenced today
- Content creation holds appeal for laid-off workers seeking flexibility
- Librarians fear new penalties, even prison, as activists challenge books
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Idaho inmate who escaped during hospital ambush faces court hearing. Others charged delay cases
- Norfolk Southern agrees to pay $600 million for East Palestine, Ohio, train derailment
- Trump’s abortion statement angers conservatives and gives the Biden campaign a new target
Recommendation
Intel's stock did something it hasn't done since 2022
Why is looking at a solar eclipse dangerous without special glasses? Eye doctors explain.
On National Beer Day 2024, the US is drinking more Modelo than Bud Light as NA brews rise
Las Vegas Aces WNBA team gets bigger venue for game Caitlin Clark is anticipated to play in
'We're reborn!' Gazans express joy at returning home to north
Gypsy Rose Blanchard Files for Divorce From Ryan Anderson 3 Months After Prison Release
Here's what's on Jon Rahm's menu at the annual Masters Champions Dinner
Great hair day: Gene Keady showed Purdue basketball spirit in his hair for Final Four