Current:Home > InvestToyota 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:2025-04-19 11:17:45
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! (3296)
Related
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Too Hot to Handle’s Francesca Farago and TikToker Jesse Sullivan Are Engaged
- Jon Bon Jovi Reacts to Criticism Over Son Jake's Engagement to Millie Bobby Brown
- 20 AAPI-Owned Makeup & Skincare Brands That Should Be in Your Beauty Bag
- Small twin
- Are Antarctica’s Ice Sheets Near a Climate Tipping Point?
- Kid Cudi says he had a stroke at 32. Hailey Bieber was 25. How common are they?
- Today’s Climate: May 4, 2010
- Trump suggestion that Egypt, Jordan absorb Palestinians from Gaza draws rejections, confusion
- The Most Powerful Evidence Climate Scientists Have of Global Warming
Ranking
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Chanel Iman Is Pregnant With Baby No. 3, First With NFL Star Davon Godchaux
- Olivia Culpo Shares Why She's Having a Hard Time Nailing Down Her Wedding Dress Design
- How can we help humans thrive trillions of years from now? This philosopher has a plan
- Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
- Flash Deal: Save 67% On Top-Rated Peter Thomas Roth Anti-Aging Skincare
- Priyanka Chopra Recalls Experiencing “Deep” Depression After Botched Nose Surgery
- Released during COVID, some people are sent back to prison with little or no warning
Recommendation
Senate begins final push to expand Social Security benefits for millions of people
Cleanse, Hydrate, and Exfoliate Your Skin With a $40 Deal on $107 Worth of First Aid Beauty Products
Fracking Study Ties Water Contamination to Surface Spills
Hunger Games' Alexander Ludwig Welcomes Baby With Wife Lauren
Tree trimmer dead after getting caught in wood chipper at Florida town hall
Billie Lourd Calls Out Carrie Fisher’s Siblings for Public “Attacks” in Rare Statement
Encore: An animal tranquilizer is making street drugs even more dangerous
An $18,000 biopsy? Paying cash might have been cheaper than using her insurance