Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -TradeCircle
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-16 18:35:07
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! (89481)
Related
- This was the average Social Security benefit in 2004, and here's what it is now
- Sacha Baron Cohen and Isla Fisher Break Up After 13 Years of Marriage
- East Coast earthquakes aren’t common, but they are felt by millions. Here’s what to know
- Mercedes workers at an Alabama plant call for union representation vote
- Meta releases AI model to enhance Metaverse experience
- Taylor Swift releases five playlists framed around the stages of grief ahead of new album
- NC State's Final Four men's team is no normal double-digit seed. Don't underestimate them
- Final Four bold predictions: How the men's semifinals of March Madness will unfold
- 2 killed, 3 injured in shooting at makeshift club in Houston
- Federal investigation begins of fatal Florida crane collapse; bridge reopens
Ranking
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- WWE women's division has a big WrestleMania 40, but its 'best is yet to come'
- Tourist from Minnesota who was killed by an elephant in Zambia was an adventurer, family says
- The Black Keys ditch insecurities and enlist Beck, Noel Gallagher, hip-hop on new album
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Sacha Baron Cohen, Isla Fischer to divorce after 14 years of marriage
- Today's jobs report shows economy added booming 303K jobs in March, unemployment at 3.8%
- New Mexico electric vehicle mandates to remain in place as auto dealers fight the new rules
Recommendation
Former Danish minister for Greenland discusses Trump's push to acquire island
3 found guilty in 2017 quadruple killing of Washington family
Kirsten Dunst and Jimmy Kimmel Reveal Their Sons Got Into a Fight at School
Latest sign Tiger Woods is planning to play the Masters. He's on the interview schedule
Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
Portland, Oregon, schools and after-school program sued after a 9-year-old girl is allegedly raped
What's next for Chiefs in stadium funding push? Pivot needed after fans reject tax measure
Your streaming is about to cost more: Spotify price hike is on the way says Bloomberg