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:2025-04-15 04:45:23
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! (2)
Related
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- Inside Clean Energy: Batteries Got Cheaper in 2021. So How Close Are We to EVs That Cost Less than Gasoline Vehicles?
- Eastwind Books, an anchor for the SF Bay Area's Asian community, shuts its doors
- Dealers still sell Hyundais and Kias vulnerable to theft, but insurance is hard to get
- A South Texas lawmaker’s 15
- Why Chris Evans Deactivated His Social Media Accounts
- Why zoos can't buy or sell animals
- Your Mission: Enjoy These 61 Facts About Tom Cruise
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Inside Clean Energy: For Offshore Wind Energy, Bigger is Much Cheaper
Ranking
- Small twin
- When the Power Goes Out, Who Suffers? Climate Epidemiologists Are Now Trying to Figure That Out
- When the Power Goes Out, Who Suffers? Climate Epidemiologists Are Now Trying to Figure That Out
- Plagued by Daily Blackouts, Puerto Ricans Are Calling for an Energy Revolution. Will the Biden Administration Listen?
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Hailey Bieber Slams Awful Narrative Pitting Her and Selena Gomez Against Each Other
- This company adopted AI. Here's what happened to its human workers
- Why does the U.S. have so many small banks? And what does that mean for our economy?
Recommendation
Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
Warming Trends: Nature and Health Studies Focused on the Privileged, $1B for Climate School and Old Tires Detour Into Concrete
Gymshark's Huge Summer Sale Is Here: Score 60% Off Cult Fave Workout Essentials
Inside the Murder Case Against a Utah Mom Who Wrote a Book on Grief After Her Husband's Sudden Death
Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
He's trying to fix the IRS and has $80 billion to play with. This is his plan
The Decline of Kentucky’s Coal Industry Has Produced Hundreds of Safety and Environmental Violations at Strip Mines
Gwyneth Paltrow Poses Topless in Poolside Selfie With Husband Brad Falchuk