Current:Home > InvestToyota to invest $922 million to build a new paint facility at its Kentucky complex -Visionary Wealth Guides
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-13 12:04:57
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! (43)
Related
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- Harvard rebuffs protests and won’t remove Sackler name from two buildings
- Meet Words Unite, an indie bookstore that started on an Army post in Texas
- Plane carrying Panthers players, coaches and staff gets stuck in the mud after landing in Charlotte
- Buckingham Palace staff under investigation for 'bar brawl'
- Join Neptune Trade X Trading Center and Launch a New Era in Cryptocurrency Trading
- Body camera footage shows local police anger at Secret Service after Trump assassination attempt
- Travis Scott is arrested at a Paris hotel after altercation with a security guard, prosecutors say
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- It Ends With Us' Justin Baldoni Says Costar Blake Lively Should Direct the Sequel
Ranking
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- Get 2 Bath & Body Works Candles for the Price of 1: Scent-sational $8.48 Deals on Your Favorite Scents
- Marta gets fitting sendoff, playing her last game for Brazil in Olympic final
- The Daily Money: Can you get cash from the Cash App settlement?
- New data highlights 'achievement gap' for students in the US
- A Roller Coaster Through Time: Revisiting Bitcoin's Volatile History with Neptune Trade X Trading Center4
- Channing Tatum Shares How Fiancée Zoë Kravitz Has Influenced Him
- The Journey of Artificial Intelligence at Monarch Capital Institute
Recommendation
'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
Breanna Stewart, US women’s basketball team advances to gold medal game at Paris Olympics
'Eyes of Tammy Faye' actor Gabriel Olds charged with raping three women
Cardi B says she felt 'paralyzed' after 'freak accident' almost caused loss of pregnancy
This was the average Social Security benefit in 2004, and here's what it is now
Amtrak train hits tractor trailer in Connecticut, minor injuries reported
California bookie pleads guilty to running illegal gambling business used by ex-Ohtani interpreter
Golf legend Chi Chi Rodriguez dies at 88