Current:Home > FinanceToyota 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:2025-04-18 01:00:54
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! (1676)
Related
- Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
- Five tough questions in the wake of the Baltimore Key Bridge collapse
- After 'Quiet on Set,' Steve from 'Blue's Clues' checked on Nickelodeon fans. They're not OK.
- Dashcam video shows deadly Texas school bus crash after cement truck veers into oncoming lane
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
- Winning ticket for massive Mega Millions jackpot sold at Neptune Township, New Jersey liquor store
- King Charles III Shares His Great Sadness After Missing Royal Event
- Sean Diddy Combs' Alleged Drug Mule Arrested at Airport Amid Home Raids
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Federal appeals court keeps hold on Texas' sweeping immigration in new ruling
Ranking
- Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
- Love Is Blind's Brittany Mills Reveals the Contestant She Dated Aside From Kenneth Gorham
- Carol Burnett recalls 'awful' experience performing before Elvis: 'Nobody wanted to see me'
- SportsCenter anchor John Anderson to leave ESPN this spring
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- After 'Quiet on Set,' Steve from 'Blue's Clues' checked on Nickelodeon fans. They're not OK.
- Judge forges ahead with pretrial motions in Georgia election interference case
- Republican states file lawsuit challenging Biden’s student loan repayment plan
Recommendation
Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
In 'Godzilla x Kong,' monsters team up while the giant ape gets a sidekick
Cute College Graduation Outfit Ideas That’ll Look Good Under Any Cap & Gown
Universities of Wisconsin president proposes 3.75% tuition increase
Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
A look at where Caitlin Clark, Paige Bueckers and others are headed when season ends
Jamie-Lynn Sigler, multiple sclerosis and the wisdom she's picked up along the way
Taylor Swift's father will not face charges for allegedly punching Australian photographer