Current:Home > InvestToyota to invest $922 million to build a new paint facility at its Kentucky complex -Edge Finance Strategies
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-16 16:19:37
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! (483)
Related
- Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
- What to know about Elijah McClain’s death and the criminal trial of two officers
- Student loan borrowers are facing nightmare customer service issues, prompting outcry from states
- Pope Francis could decide whether Catholic Church will bless same-sex unions
- Stamford Road collision sends motorcyclist flying; driver arrested
- Will Leo Messi play again? Here's the latest on Inter Miami's star before Chicago FC match
- See Jacob Elordi's Full Elvis Presley Transformation in New Priscilla Trailer
- Saudi Arabia says it will maintain production cuts that have helped drive oil prices up
- Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor
- Monica Lewinsky overcame ‘excruciating shame and pain.’ Now, she’s a voice for anti-bullying.
Ranking
- Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
- Scott Disick Praises Real Life Princess Kylie Jenner's Paris Fashion Week Look
- Jamie Lynn Spears Reacts to Her Dancing With the Stars Elimination
- Serbian authorities have detained the alleged organizer behind a recent shootout with Kosovo police
- Trump invites nearly all federal workers to quit now, get paid through September
- Who are college football's most overpaid coaches? Hint: SEC leads the way.
- USFWS Is Creating a Frozen Library of Biodiversity to Help Endangered Species
- Paris is crawling with bedbugs. They're even riding the trains and a ferry.
Recommendation
Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
Male nanny convicted in California of sexually assaulting 16 young boys in his care
Child abuse or bad parenting? Jury hears case of Florida dad who kept teenager locked in garage
Major fire strikes Detroit-area apartment complex for seniors
Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
Youngkin administration says unknown number of eligible voters were wrongly removed from rolls
EVs killed the AM radio star
New Mexico attorney general has charged a police officer in the shooting death of a Black man