Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -FundTrack
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-16 06:14:37
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! (668)
Related
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- NYC Environmental Justice Activists Feel Ignored by the City and the Army Corps on Climate Projects
- Sheriff’s office quickly dispels active shooter rumor at Disney World after fight, ‘popping’ sound
- Getting paid early may soon be classified as a loan: Why you should care
- The Super Bowl could end in a 'three
- An Alabama man is charged in a cold case involving a Georgia woman who was stabbed to death
- Matthew Gaudreau's Wife Madeline Pregnant With Their First Baby Amid His Death
- Lululemon Labor Day Finds: Snag $118 Align Leggings for Only $59, Tops for $39, & More Styles Under $99
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Social media is filled with skin care routines for girls. Here’s what dermatologists recommend
Ranking
- The 401(k) millionaires club keeps growing. We'll tell you how to join.
- Who Is Paralympian Sarah Adam? Everything to Know About the Rugby Player Making History
- Suspect in abduction and sexual assault of 9-year-old girl dies in car crash while fleeing police
- Here's why pickles are better for your health than you might think
- Average rate on 30
- Hello Kitty's Not a Cat, Goofy's Not a Dog. You'll Be Shocked By These Facts About Your Fave Characters
- Stock market today: Wall Street rises as inflation report confirms price increases are cooling
- Michigan Supreme Court rules out refunds for college students upended by COVID-19 rules
Recommendation
Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
'Serial' case keeps going: An undo turns into a redo in Adnan Syed murder conviction
Angelina Jolie Shares Perspective on Relationships After Being “Betrayed a Lot”
One Tree Hill Sequel Series in the Works 12 Years After Finale
Why members of two of EPA's influential science advisory committees were let go
What we know about bike accident that killed Johnny Gaudreau, NHL star
Horoscopes Today, August 30, 2024
Ex-Florida deputy released on bond in fatal shooting of U.S. Airman Roger Fortson