Current:Home > FinanceToyota to invest $922 million to build a new paint facility at its Kentucky complex -Wealth Axis Pro
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-14 21:06:04
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! (5672)
Related
- Tree trimmer dead after getting caught in wood chipper at Florida town hall
- A Deeply Personal Race Against A Fatal Brain Disease
- Today’s Climate: August 19, 2010
- Diamond diggers in South Africa's deserted mines break the law — and risk their lives
- US appeals court rejects Nasdaq’s diversity rules for company boards
- Robert De Niro Reveals Name of His and Girlfriend Tiffany Chen's Newborn Baby Girl
- Is Coal Ash Killing This Oklahoma Town?
- Dear Life Kit: How do I get out of my pandemic rut? Michelle Obama weighs in
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Science, Health Leaders Lay Out Evidence Against EPA’s ‘Secret Science’ Rule
Ranking
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- The bear market is finally over. Here's why investors see better days ahead.
- Industries Try to Strip Power from Ohio River’s Water Quality Commission
- Her miscarriage left her bleeding profusely. An Ohio ER sent her home to wait
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- Enbridge’s Kalamazoo Spill Saga Ends in $177 Million Settlement
- Too many Black babies are dying. Birth workers in Kansas fight to keep them alive
- Florida's 'Dr. Deep' resurfaces after a record 100 days living underwater
Recommendation
Travis Hunter, the 2
Is the IOGCC, Created by Congress in 1935, Now a Secret Oil and Gas Lobby?
Meghan Trainor's Last-Minute Gift Ideas for Mom Are Here to Save Mother's Day
We asked, you answered: What precious object is part of your family history?
Could your smelly farts help science?
How climate change is raising the cost of food
This week on Sunday Morning (June 11)
The Fate of Vanderpump Rules and More Bravo Series Revealed