Current:Home > StocksToyota 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
View
Date:2025-04-19 20:03:48
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! (36)
Related
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- US consumer sentiment slips in October on frustration over high prices
- Stellantis, seeking to revive sales, makes some leadership changes
- Mauricio Umansky Files for Conservatorship Over Father Amid Girlfriend's Alleged Abuse
- Skins Game to make return to Thanksgiving week with a modern look
- BrucePac recalls 10 million pounds of ready-to-eat meat: See list of 75 products affected
- Judge blocks Penn State board from voting to remove a trustee who has sought financial records
- Horoscopes Today, October 10, 2024
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- A man charged in the killing of a Georgia nursing student faces hearing as trial looms
Ranking
- A White House order claims to end 'censorship.' What does that mean?
- Priscilla Presley’s Ex-Boyfriend Michael Edwards Denies Molesting Lisa Marie Presley When She Was 10
- Strong opposition delays vote on $1.5M settlement over deadly police shooting
- TikToker Taylor Rousseau Grigg's Cause of Death Revealed
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Back-to-back hurricanes reshape 2024 campaign’s final stretch
- Lurking in Hurricane Milton's floodwaters: debris, bacteria and gators
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Jibber-jabber
Recommendation
Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
Lake blames Gallego for border woes, he vows to protect abortion rights in Arizona Senate debate
Anderson Cooper hit by debris during CNN's live Hurricane Milton coverage
Mike Tyson names his price after Jake Paul's $5 million incentive offer
Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
Modern Family's Ariel Winter Shares Rare Update on Her Life Outside of Hollywood
Justin Timberlake Shares Update Days After Suffering Injury and Canceling Show
Wholesale inflation remained cool last month in latest sign that price pressures are slowing