Current:Home > NewsToyota to invest $922 million to build a new paint facility at its Kentucky complex -TrueNorth Finance Path
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-17 19:26:21
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! (14)
Related
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Ryan Reynolds Reacts to Deadpool's Box Office Rivalry With Wife Blake Lively's It Ends With Us
- Jordan Chiles breaks silence on Olympic bronze medal controversy: 'Feels unjust'
- No Honda has ever done what the Prologue Electric SUV does so well
- Trump wants to turn the clock on daylight saving time
- Jordan Chiles breaks silence on Olympic bronze medal controversy: 'Feels unjust'
- How Ferguson elevated the profile of the Justice Department’s civil rights enforcers
- Virginia attorney general denounces ESG investments in state retirement fund
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Taylor Swift’s Eras tour returns in London, with assist from Ed Sheeran, after foiled terror plot
Ranking
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- Delta says it’s reviewing how man boarded wrong flight. A family says he was following them
- Rail bridge collapses on US-Canada border
- Wrongful death suit against Disney serves as a warning to consumers when clicking ‘I agree’
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- Matthew Perry Ketamine Case: Doctors Called Him “Moron” in Text Messages, Prosecutors Allege
- How Rumer Willis Is Doing Motherhood Her Way
- Ryan Reynolds Reacts to Deadpool's Box Office Rivalry With Wife Blake Lively's It Ends With Us
Recommendation
Trump suggestion that Egypt, Jordan absorb Palestinians from Gaza draws rejections, confusion
Arizona, Nevada and Mexico will lose same amount of Colorado River water next year as in 2024
ROKOS CAPITAL MANAGEMENT PTY LTD (RCM) Introduction
Wrongful death suit against Disney serves as a warning to consumers when clicking ‘I agree’
Federal hiring is about to get the Trump treatment
Federal subpoenas issued in probe of New York Mayor Eric Adams’ 2021 campaign
After record-breaking years, migrant crossings plunge at US-Mexico border
Michigan woman died after hiking Isle Royale National Park, officials say