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
View
Date:2025-04-15 09:30:56
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! (85683)
Related
- North Carolina justices rule for restaurants in COVID
- Josh Duggar's 12-Year Prison Sentence for Child Pornography Charges Has Been Extended
- Heartbroken Keanu Reeves Mourns Death of John Wick Co-Star Lance Reddick
- Human remains found inside two crocodiles believed to be missing fisherman
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Opinion: Are robots masters of strategy, and also grudges?
- Surreal or too real? Breathtaking AI tool DALL-E takes its images to a bigger stage
- Gunmen storm school in Pakistan, kill 8 teachers in separate attacks
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- See Prince Louis waving, yawning during King Charles' coronation before retiring
Ranking
- North Carolina justices rule for restaurants in COVID
- Mount Kilimanjaro climbers can share slope selfies in real-time thanks to new Wi-Fi
- Kim and Khloe Kardashian Share Rare Photos With Beautifully Brave Brother Rob Kardashian
- Ashley Graham Reveals Husband Justin Ervin Got a Vasectomy After Twins' Birth
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- Jurassic Park’s Sam Neill Shares He’s In Treatment After Stage 3 Blood Cancer Diagnosis
- What is a recession? Wikipedia can't decide
- Twitter follows Instagram in restricting Ye's account after antisemitic posts
Recommendation
House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
A cyberattack hits the Los Angeles School District, raising alarm across the country
Man arrested outside Buckingham Palace after throwing suspected shotgun cartridges over gates, police say
Tesla cashes out $936 million in Bitcoin, after a year of crypto turbulence
San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
Sephora 24-Hour Flash Sale: Take 50% Off Smashbox, Nudestix, and More
Making Space Travel Accessible For People With Disabilities
The U.S. made a breakthrough battery discovery — then gave the technology to China