Current:Home > reviewsToyota to invest $922 million to build a new paint facility at its Kentucky complex -CapitalEdge
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-18 02:41:20
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! (594)
Related
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- JPMorgan net income falls as bank sets aside more money to cover potential bad loans
- Biden tells Trump to ‘get a life, man’ and stop storm misinformation
- Martha Stewart Says Prosecutors Should Be Put in a Cuisinart Over Felony Conviction
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- Milton by the numbers: At least 5 dead, at least 12 tornadoes, 3.4M without power
- Bestselling author Brendan DuBois indicted for possession of child sexual abuse materials
- Polling Shows Pennsylvania Voters Are Divided on Fracking
- A South Texas lawmaker’s 15
- WNBA Finals Game 1: Lynx pull off 18-point comeback, down Liberty in OT
Ranking
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- Teen held in fatal 2023 crash into Las Vegas bicyclist captured on video found unfit for trial
- ¿Dónde tocó tierra el huracán Milton? Vea la trayectoria de la tormenta.
- Chase Bank security guard accused of helping plan a robbery at the same bank, police say
- Sam Taylor
- Anna Delvey's 'DWTS' partner reveals 'nothing' tattoo after her infamous exit comment
- Winter in October? Snow recorded on New Hampshire's Mount Washington
- RHOSLC's Jen Shah Gets Prison Sentence Reduced in Fraud Case
Recommendation
Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
Residents clean up and figure out what’s next after Milton
How one 8-year-old fan got Taylor Swift's '22' hat at the Eras Tour
10 players to buy low and sell high: Fantasy football Week 6
Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
Trump insults Detroit while campaigning in the city
Reba McEntire's got a friend in Carole King: Duo teamed on 'Happy's Place' theme song
'Need a ride?' After Hurricanes Helene and Milton hit this island, he came to help.