Current:Home > InvestToyota 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:2025-04-20 01:39:13
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! (16954)
Related
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- US inflation may have risen only modestly last month as Fed officials signal no rate hike is likely
- Police say woman stabbed taxi driver on interstate before injuring two others at the Atlanta airport
- New Netflix show 'The Fall of the House of Usher': Release date, cast and trailer
- Tom Holland's New Venture Revealed
- Taylor Swift Embraces a New Romantic Style at Eras Tour Movie Premiere Red Carpet
- Algeria’s top court rejects journalist’s appeal of his seven-year sentence
- Germany is aiming to ease deportations as the government faces intense pressure on migration
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- Newsom signs laws to fast-track housing on churches’ lands, streamline housing permitting process
Ranking
- All That You Wanted to Know About She’s All That
- CIA publicly acknowledges 1953 coup it backed in Iran was undemocratic as it revisits ‘Argo’ rescue
- Israel kibbutz the scene of a Hamas massacre, first responders say: The depravity of it is haunting
- More Americans support striking auto workers than car companies, AP-NORC poll shows
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- The Sun Baby From the Teletubbies Is Pregnant—And Yes, You’re Old AF
- Arrest made after 3 stabbed at Atlanta airport, including police officer
- Mom of Israeli-American soldier killed in Hamas terror attack: You will live on forever in my heart.
Recommendation
Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
Florida law targeting drag shows can’t be enforced for now, appellate court says
Police say woman stabbed taxi driver on interstate before injuring two others at the Atlanta airport
Chrishell Stause Is Confronted By Jason Oppenheim's Girlfriend in Selling Sunset Season 7 Trailer
The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
Migrants flounder in Colombian migration point without the money to go on
Auto workers escalate strike, walking out at Ford’s largest factory and threatening Stellantis
Raoul Peck’s ‘Silver Dollar Road’ chronicles a Black family’s battle to hold onto their land