Current:Home > ScamsToyota to invest $922 million to build a new paint facility at its Kentucky complex -TruePath Finance
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-18 14:10:00
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! (291)
Related
- Former Syrian official arrested in California who oversaw prison charged with torture
- Man identifying himself as American Travis Timmerman found in Syria after being freed from prison
- Biden says he was ‘stupid’ not to put his name on pandemic relief checks like Trump did
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- Highlights from Trump’s interview with Time magazine
- Stock market today: Asian stocks are mixed ahead of key US inflation data
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Rooftop Solar Keeps Getting More Accessible Across Incomes. Here’s Why
- What do we know about the mysterious drones reported flying over New Jersey?
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
Ranking
- A South Texas lawmaker’s 15
- Timothée Chalamet makes an electric Bob Dylan: 'A Complete Unknown' review
- South Korea opposition leader Lee says impeaching Yoon best way to restore order
- The best tech gifts, gadgets for the holidays featured on 'The Today Show'
- Louvre will undergo expansion and restoration project, Macron says
- The Daily Money: Now, that's a lot of zeroes!
- Pakistan ex
- A fugitive gains fame in New Orleans eluding dart guns and nets
Recommendation
Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
Pakistan ex
Stock market today: Asian shares retreat, tracking Wall St decline as price data disappoints
Man on trial in Ole Miss student’s death lied to investigators, police chief says
Don't let hackers fool you with a 'scam
OCBC chief Helen Wong joins Ho Ching, Jenny Lee on Forbes' 100 most powerful women list
The Daily Money: Now, that's a lot of zeroes!
McConnell absent from Senate on Thursday as he recovers from fall in Capitol