Current:Home > ScamsToyota to invest $922 million to build a new paint facility at its Kentucky complex -AssetScope
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
SignalHub View
Date:2025-04-08 10:41:22
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! (6943)
Related
- A South Texas lawmaker’s 15
- Father drowns in pond while trying to rescue his two daughters in Maine
- 2 dead, 5 hurt during Texas party shooting, police say
- Christy Turlington’s 19-Year-Old Daughter Grace Burns Makes Runway Debut in Italy
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- New tax credits for electric vehicles kicked in last week
- See the Major Honor King Charles III Just Gave Queen Camilla
- Chrissy Teigen Slams Critic Over Comments About Her Appearance
- The White House is cracking down on overdraft fees
- Be on the lookout for earthworms on steroids that jump a foot in the air and shed their tails
Ranking
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Efforts To Cut Georgia Ports’ Emissions Lack Concrete Goals
- Rebel Wilson Shares Glimpse Into Motherhood With “Most Adorable” Daughter Royce
- How Maksim and Val Chmerkovskiy’s Fatherhood Dreams Came True
- Questlove charts 50 years of SNL musical hits (and misses)
- As Climate Change Hits the Southeast, Communities Wrestle with Politics, Funding
- Gavin Rossdale Reveals Why He and Ex Gwen Stefani Don't Co-Parent Their 3 Kids
- Kate Hudson Bonds With Ex Matt Bellamy’s Wife Elle Evans During London Night Out
Recommendation
Stamford Road collision sends motorcyclist flying; driver arrested
Orlando Aims High With Emissions Cuts, Despite Uncertain Path
5 things to know about Southwest's disastrous meltdown
Senate 2020: Mitch McConnell Now Admits Human-Caused Global Warming Exists. But He Doesn’t Have a Climate Plan
Intel's stock did something it hasn't done since 2022
Police link man to killings of 2 women after finding second body in Minnesota storage unit
Today's Al Roker Reflects on Health Scares in Emotional Father's Day Tribute
Eminem's Role in Daughter Alaina Scott's Wedding With Matt Moeller Revealed