Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Clarity Finance Guides
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-15 14:43:29
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! (13)
Related
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- Late-night host Taylor Tomlinson tries something new with 'After Midnight.' It's just OK.
- Montana man pleads guilty to possessing homemade bombs in school threat case
- Florida 19-year-old charged in shooting death of teen friend was like family, victim's mom says
- Sam Taylor
- 'Work from anywhere' downside: potential double taxation from states. Here's what to know.
- Eating these foods after working out can improve recovery and rebuild muscle
- Proof You've Been Pronouncing Travis Kelce's Name Wrong This Whole Time
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- Senate clears first hurdle in avoiding shutdown, votes to advance short-term spending bill
Ranking
- Military service academies see drop in reported sexual assaults after alarming surge
- Virginia Senate panel defeats bill that aimed to expand use of murder charge against drug dealers
- Take these steps to protect yourself from winter weather dangers
- Official in Poland’s former conservative government charged in cash-for-visas investigation
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Bye-bye, witty road signs: Feds ban funny electronic messages on highways
- Blackhawks vs. Sabres postponed to Thursday as heavy snow, travel ban hit Buffalo
- Quaker Oats recall list: See the dozens of products being recalled for salmonella concerns
Recommendation
$73.5M beach replenishment project starts in January at Jersey Shore
Judge denies request to dismiss case against man charged in NYC subway chokehold death
U.S. condemns Iran's reckless missile strikes near new American consulate in Erbil, northern Iraq
Could lab-grown rhino horns stop poaching? Why we may never know
McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
Josh Duhamel and Audra Mari announce birth of son Shepherd Lawrence: See the sweet photo
DirecTV, Tegna reach agreement to carry local NBC, CBS, ABC, Fox stations after dispute
GOP Congressman Jeff Duncan won’t run for 8th term in his South Carolina district