Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -MoneyTrend
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Rekubit View
Date:2025-04-09 21:28:10
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! (14485)
Related
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Florida man files a lawsuit to prevent Ohtani’s 50th HR ball from going to auction
- NFL Week 4 picks straight up and against spread: Will Packers stop Vikings from going 4-0?
- Foo Fighters scrap Soundside Music Festival performance after Dave Grohl controversy
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Melania Trump calls her husband’s survival of assassination attempts ‘miracles’
- The Best New Beauty Products September 2024: Game-Changing Hair Identifier Spray & $3 Items You Need Now
- Here’s Why Jelly Roll Missed the 2024 People’s Choice Country Awards
- Illinois governor calls for resignation of sheriff whose deputy fatally shot Black woman in her home
- How Messi's Inter Miami qualified for the 2025 Concacaf Champions Cup
Ranking
- Connie Chiume, South African 'Black Panther' actress, dies at 72
- James Corden Admits He Tried Ozempic for Weight Loss and Shares His Results
- Don't ask the internet how much house you can afford. We have answers.
- Athletics bid emotional farewell to Oakland Coliseum that they called home since 1968
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- From 'Inside Out 2' to 'Challengers,' 15 movies you need to stream right now
- More deadly than wind, storm surge from Hurricane Helene could be devastating
- Judge orders US government to leave Wisconsin reservation roads open
Recommendation
Daughter of Utah death row inmate navigates complicated dance of grief and healing before execution
'We've got a problem': Sheriff scolds residents for ignoring Helene evacuation order
US sweeps first day at Presidents Cup
Do you have a pet plan ready for Hurricane Helene? Tips to keep your pet prepared
Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
NFL Week 4 picks straight up and against spread: Will Packers stop Vikings from going 4-0?
Hurricane Helene's forecast looks disastrous far beyond Florida
Travis Barker Shares One Regret About Raising Kids Landon and Alabama Barker With Shanna Moakler