Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -Infinite Edge Capital
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-18 10:11:06
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! (64421)
Related
- What to watch: O Jolie night
- Bridgerton’s Nicola Coughlan Shares Why She Was “Terrified” at the 2024 Emmys
- Louisville interim police chief will lead department in permanent role
- 2024 Emmys: Rita Ora Shares Rare Insight Into Marriage With Taika Waititi
- Meta releases AI model to enhance Metaverse experience
- Flooding in Central Europe leaves 5 dead in Poland and 1 in Czech Republic
- Target brings back popular car seat-trade in program: How you can get the discount
- NFL Week 2 winners, losers: Bears have a protection problem with Caleb Williams
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Dick Van Dyke, 98, Misses 2024 Emmys After Being Announced as a Presenter
Ranking
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- Maine commission considers public flood insurance
- FACT FOCUS: A look at false claims made by Trump in California
- Fantasy football buy low, sell high: 10 trade targets for Week 3
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Kate Spade's Top 100 Under $100: $259 Bag for Just $49 Today Only, Plus Extra 20% Off Select Styles
- Firefighters make progress in battling Southern California wildfires amid cooler weather
- A pipeline has exploded and is on fire in a Houston suburb, forcing evacuations
Recommendation
2025 'Doomsday Clock': This is how close we are to self
Medicare Open Enrollment is only 1 month away. Here are 3 things all retirees should know.
Man suspected in apparent assassination attempt on Trump charged with federal gun crimes
Microsoft solves 365 outage that left thousands unable to access email, Teams, other apps
Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
Why did the Falcons draft Michael Penix Jr.? Looking back at bizarre 2024 NFL draft pick
Keep Up with Good American’s Friends & Family Sale—Save 30% off Khloé Kardashian’s Jeans, Tops & More
Betting on elections threatens confidence in voting and should be banned, US agency says