Current:Home > StocksToyota 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
View
Date:2025-04-11 15:36:51
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! (97952)
Related
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- Chiefs quarterback Patrick Mahomes on being a dad, his career and his legacy: Don't want to have any regrets
- How the cats of Dixfield, Maine came into a fortune — and almost lost it
- California woman released by captors nearly 8 months after being kidnapped in Mexico
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- Cheers Your Cosmos to the Most Fabulous Sex and the City Gift Guide
- Video shows driver stopping pickup truck and jumping out to tackle man fleeing police in Oklahoma
- Catholic Bishops in the US Largely Ignore the Pope’s Concern About Climate Change, a New Study Finds
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- Kelly Clarkson Shares Insight Into Life With Her Little Entertainers River and Remy
Ranking
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- ExxonMobil Shareholders to Company: We Want a Different Approach to Climate Change
- She left her 2007 iPhone in its box for over a decade. It just sold for $63K
- Child labor violations are on the rise as some states look to loosen their rules
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- How to score better savings account interest rates
- Pollinator-Friendly Solar Could be a Win-Win for Climate and Landowners, but Greenwashing is a Worry
- Senators are calling on the Justice Department to look into Ticketmaster's practices
Recommendation
Sonya Massey's father decries possible release of former deputy charged with her death
Inside Clean Energy: The Energy Storage Boom Has Arrived
RHONJ's Teresa Giudice Addresses Shaky Marriage Rumors Ahead of First Anniversary
Delta Air Lines pilots approve contract to raise pay by more than 30%
North Carolina justices rule for restaurants in COVID
This group gets left-leaning policies passed in red states. How? Ballot measures
Citing an ‘Imminent’ Health Threat, the EPA Orders Temporary Shut Down of St. Croix Oil Refinery
How AI technology could be a game changer in fighting wildfires