Current:Home > InvestToyota to invest $922 million to build a new paint facility at its Kentucky complex -GrowthSphere Strategies
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-14 23:01:23
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! (691)
Related
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- Martin Short Details Nervous First Day on Only Murders Set with Meryl Streep
- King Charles III Shares Insight Into Queen Elizabeth’s Final Days 2 Years After Her Death
- Las Vegas memorial to mass shooting victims should be complete by 10th anniversary
- Rylee Arnold Shares a Long
- Halloween costumes for 'Fallout,' 'The Boys' and more Prime Video shows: See prices, ideas, more
- Cincinnati Opera postpones Afrofuturist-themed `Lalovavi’ by a year to the summer of 2026
- Katie Meyer's family 'extremely disappointed' Stanford didn't honor ex-goalie last week
- The White House is cracking down on overdraft fees
- Sabrina Carpenter jokes at NYC concert about Eric Adams indictment
Ranking
- Federal appeals court upholds $14.25 million fine against Exxon for pollution in Texas
- 'I hate Las Vegas': Green Day canceled on at least 2 radio stations after trash talk
- A crash with a patrol car kills 2 men in an SUV and critically injures 2 officers near Detroit
- Man accused of killing his grandmother with hammer in New Hampshire
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Sabrina Carpenter jokes at NYC concert about Eric Adams indictment
- Startling video shows Russian fighter jet flying within feet of U.S. F-16 near Alaska
- Breyers to pay $8.85 million to settle 'natural vanilla' ice cream dispute
Recommendation
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Fantasy football buy low, sell high: 10 trade targets for Week 5
5 dead, including minor, after plane crashes near Wright Brothers memorial in North Carolina
Who was Pete Rose? Hits, records, MLB suspension explained
Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
Trial on new Georgia election certification rules set to begin
Gavin Creel, Tony-winning Broadway star, dies at 48
Atlanta Braves and New York Mets players celebrate clinching playoff spots together