Current:Home > MarketsToyota 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
Surpassing Quant Think Tank Center View
Date:2025-04-06 18:04:02
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! (91241)
Related
- Meta releases AI model to enhance Metaverse experience
- Harris is pushing joy. Trump paints a darker picture. Will mismatched moods matter?
- Christina Hall Shares Update on Her Kids Amid Josh Hall Divorce
- 'Snow White' gives first look at Evil Queen, Seven Dwarfs: What to know about the remake
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Watch: These tech tips help simplify back-to-school shopping
- Hair loss is extremely common. Are vitamins the solution?
- North Dakota voters to weigh in again on marijuana legalization
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Credit card debt: Inflation, interest rates have more Americans carrying balances over
Ranking
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Olympics 2024: Tom Cruise Ends Closing Ceremony With Truly Impossible Stunt
- Man sentenced to jail after involuntary manslaughter plea in death stemming from snoring dispute
- Browns’ plans for move to new dome stadium hits snag as county backs city’s renovation proposal
- Questlove charts 50 years of SNL musical hits (and misses)
- After another gold medal, is US women's basketball best Olympic dynasty of all time?
- New video proves Jordan Chiles inquiry was submitted in time, USA Gymnastics says
- Post Malone Makes Rare Comments About His Fiancée and 2-Year-Old Daughter
Recommendation
Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
Disney's Goofy Character Isn't Actually a Dog—Or a Cow
'Scarface' actor Ángel Salazar dies at 68
Snoop Dogg Drops It Like It's Hot at Olympics Closing Ceremony
The Super Bowl could end in a 'three
Madison LeCroy’s Hair Hack Gives Keratin Treatment and Brazilian Blowout Results Without Damage
MLB power rankings: Rampaging Padres hunt down Dodgers behind phenom Jackson Merrill
This is absolutely the biggest Social Security check any senior will get this year