Current:Home > ScamsSurpassing Quant Think Tank Center|Toyota to invest $922 million to build a new paint facility at its Kentucky complex -CapitalEdge
Surpassing Quant Think Tank Center|Toyota to invest $922 million to build a new paint facility at its Kentucky complex
FinLogic FinLogic Quantitative Think Tank Center View
Date:2025-04-11 11:03:26
GEORGETOWN,Surpassing Quant Think Tank Center 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! (57484)
Related
- Former longtime South Carolina congressman John Spratt dies at 82
- Lose Yourself in the Details Behind Eminem's Surprise Performance at Detroit Concert Event
- Stepmom charged after 5-year-old girl’s body is recovered from Indiana river
- Manhattan district attorney agrees to testify in Congress, but likely not until Trump is sentenced
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Prince William’s Special Role at The Duke and Duchess of Westminster's Royal Wedding Revealed
- The best-looking SUVs you can buy today
- New York moves to ban ‘addictive’ social media feeds for kids
- Pregnant Kylie Kelce Shares Hilarious Question Her Daughter Asked Jason Kelce Amid Rising Fame
- 1,900 New Jersey ballots whose envelopes were opened early must be counted, judge rules
Ranking
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Probe launched after Jewish student group omitted from New Jersey high school yearbook
- House explosion in northern Virginia was caused by man igniting gasoline, authorities say
- This week on Sunday Morning (June 9)
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
- Appointed by Trump, Hunter Biden trial judge spent most of her career in civil law
- Missing 21-year-old woman possibly with man and his missing 2-year-old daughter
- Black D-Day combat medic’s long-denied medal tenderly laid on Omaha Beach where he bled, saved lives
Recommendation
Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
Rare juvenile T. rex fossil found by children in North Dakota to go on display in Denver museum
Wisconsin Republican leader Robin Vos says recall petition effort against him failed
Authorities bust LEGO theft ring, find over 2,800 toys at home in Long Beach, California
Trump issues order to ban transgender troops from serving openly in the military
For $12, This Rotating Organizer Fits So Much Makeup in My Bathroom & Gives Cool Art Deco Vibes
House explosion in northern Virginia was caused by man igniting gasoline, authorities say
House explosion in northern Virginia was caused by man igniting gasoline, authorities say