Current:Home > StocksCharles H. Sloan-Toyota to invest $922 million to build a new paint facility at its Kentucky complex -Visionary Wealth Guides
Charles H. Sloan-Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Will Sage Astor View
Date:2025-04-06 13:40:05
GEORGETOWN,Charles H. Sloan 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! (59)
Related
- This was the average Social Security benefit in 2004, and here's what it is now
- Donald Trump breaks silence on 'Apprentice' movie: 'Disgusting hatchet job'
- Video shows rescuer lowered into 14-foot hole in Florida to rescue trapped dog
- Bella Hadid Makes Angelic Return to Victoria’s Secret Fashion Show
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Navy parachutist crash lands on mother and daughter during San Francisco Fleet Week
- Tom Brady’s purchase of a minority stake in the Las Vegas Raiders is approved by NFL team owners
- Idaho will begin using deep veins as backup for lethal injection executions, officials say
- Average rate on 30
- Zendaya's Stylist Law Roach Reacts to 2025 Met Gala Theme
Ranking
- A South Texas lawmaker’s 15
- Lonzo Ball makes triumphant return for first NBA game since Jan. 2022
- Thanksgiving Grandma Wanda Dench Shares Breast Cancer Diagnosis
- Why Bradley Cooper Won't Be Supporting Girlfriend Gigi Hadid at the Victoria's Secret Fashion Show
- New data highlights 'achievement gap' for students in the US
- Lawyers for Sean ‘Diddy’ Combs ask judge to release identities of his accusers
- Horoscopes Today, October 15, 2024
- Olivia Rodrigo shakes off falling through trapdoor during concert: Watch the moment
Recommendation
Senate begins final push to expand Social Security benefits for millions of people
Tom Brady's bid to buy part of Raiders approved by NFL owners after lengthy wait
FEMA resumes door-to-door visits in North Carolina after threats tied to disinformation
Nebraska high court to decide if residents with felony records can vote
Military service academies see drop in reported sexual assaults after alarming surge
San Jose State volleyball at the center of another decision on forfeiting
Michigan is paying $13M after shooter drill terrified psychiatric hospital for kids
Montana Republican Gov. Greg Gianforte to debate Democratic rival