Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -DataFinance
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-18 13:48:12
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! (36)
Related
- What do we know about the mysterious drones reported flying over New Jersey?
- Super Bowl LVIII: Nickelodeon to air a kid-friendly, SpongeBob version of the big game
- Rockin' Around the Christmas Tree goes to No. 1 — after 65 years
- Air Force identifies the eight US crew lost in Osprey crash in Japan
- Federal appeals court upholds $14.25 million fine against Exxon for pollution in Texas
- All of These Dancing With the Stars Relationships Happened Off the Show
- Margot Robbie tells Cillian Murphy an 'Oppenheimer' producer asked her to move 'Barbie' release
- Prince Harry challenges decision to strip him of security after move to US with Meghan
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- Amy Robach and T.J. Holmes' Exes, Andrew Shue and Marilee Fiebig, Are Dating
Ranking
- Don't let hackers fool you with a 'scam
- Jonathan Majors’ accuser said actor’s ‘violent temper’ left her fearful before alleged assault
- Vice President Harris breaks nearly 200-year-old record for Senate tiebreaker votes, casts her 32nd
- Nobel laureate Malala Yousafzai urges world to confront Taliban’s ‘gender apartheid’ against women
- Skins Game to make return to Thanksgiving week with a modern look
- Former president of Mauritania gets 5-year prison sentence for corruption
- New manager Ron Washington brings optimism to LA Angels as Shohei Ohtani rumors swirl
- Can you answer these 60 Christmas trivia questions on movies, music and traditions?
Recommendation
Where will Elmo go? HBO moves away from 'Sesame Street'
At least 16 dead and 12 injured as passenger bus falls off ravine in central Philippines
Families of 3 Black victims in fatal Florida Dollar General shooting plead for end to gun violence
Air Force identifies the eight US crew lost in Osprey crash in Japan
Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
Two separate earthquakes, magnitudes 5.1 and 3.5, hit Hawaii, California; no tsunami warning
Bridgeport mayor says supporters broke law by mishandling ballots but he had nothing to do with it
Grand Theft Auto VI trailer is released. Here are 7 things we learned from the 90-second teaser.