Current:Home > FinanceToyota 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
Indexbit View
Date:2025-04-06 23:26:29
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! (5)
Related
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- On Labor Day, think of the children working graveyard shifts right under our noses
- Tamra Judge’s Mom Roasts Her Over Her Post Cosmetic Procedure Look on Her Birthday
- Jardin Gilbert targeting call helps lead to USC game-winning touchdown vs LSU
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- Family found dead after upstate New York house fire were not killed by the flames, police say
- Judge Mathis Addresses Cheating Rumors Amid Divorce From Linda Mathis
- NFL hot seat rankings: Mike McCarthy, Nick Sirianni among coaches already on notice
- Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
- A decision on a major policy shift on marijuana won’t come until after the presidential election
Ranking
- Retirement planning: 3 crucial moves everyone should make before 2025
- Roger Federer understands why there are questions about US Open top seed Jannik Sinner’s doping case
- Republicans in Massachusetts pick candidate to take on Sen. Elizabeth Warren
- Kathryn Hahn Shares What Got Her Kids “Psyched” About Her Marvel Role
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- Alabama man charged with murder in gas station shooting deaths of 3 near Birmingham
- Jardin Gilbert targeting call helps lead to USC game-winning touchdown vs LSU
- Brian Jordan Alvarez dissects FX's subversive school comedy 'English Teacher'
Recommendation
Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
When is 'The Bachelorette' finale? Date, time, finalists, where to watch Jenn Tran's big decision
Man found frozen in cave along Appalachian Trail identified after nearly 50 years
Gymnast Kara Welsh’s Coaches and Teammates Mourn Her Death
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Suspect arrested in killing of gymnastics champion at University of Wisconsin-Whitewater
Derek Jeter to be Michigan's honorary captain against Texas
US government seizes plane used by Venezuelan president, citing sanctions violations