Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -FundGuru
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
SignalHub View
Date:2025-04-08 14:34:36
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! (8229)
Related
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Cyclone Freddy shattered records. People lost everything. How does the healing begin?
- Remember Every Stunning Moment of Prince Harry and Meghan Markle’s Wedding
- Scientists sequence Beethoven's genome for clues into his painful past
- Meet first time Grammy nominee Charley Crockett
- Mass Die-Off of Puffins Raises More Fears About Arctic’s Warming Climate
- Jennifer Lopez’s Contour Trick Is Perfect for Makeup Newbies
- Jersey Shore’s Nicole Polizzi Hilariously Reacts to Her Kids Calling Her “Snooki”
- Sam Taylor
- Exxon Loses Appeal to Keep Auditor Records Secret in Climate Fraud Investigation
Ranking
- Federal appeals court upholds $14.25 million fine against Exxon for pollution in Texas
- Infection toll for recalled eyedrops climbs to 81, including 4 deaths, CDC says
- Teen Mom's Maci Bookout Celebrates Son Bentley's Middle School Graduation
- Commonsense initiative aims to reduce maternal mortality among Black women
- California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
- Why Bre Tiesi Was Finally Ready to Join Selling Sunset After Having a Baby With Nick Cannon
- A new Arkansas law allows an anti-abortion monument at the state Capitol
- Q&A: Denis Hayes, Planner of the First Earth Day, Discusses the ‘Virtual’ 50th
Recommendation
How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
This Week in Clean Economy: U.S. Electric Carmakers Get the Solyndra Treatment
Is Climate Change Fueling Tornadoes?
U.S. Medical Groups Warn Candidates: Climate Change Is a ‘Health Emergency’
Questlove charts 50 years of SNL musical hits (and misses)
How Taylor Lautner Grew Out of His Resentment Towards Twilight Fame
Private opulence, public squalor: How the U.S. helps the rich and hurts the poor
Surviving long COVID three years into the pandemic