Current:Home > MarketsToyota 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
Indexbit View
Date:2025-04-10 12:15:03
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! (2177)
Related
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- The Fed indicated rates will remain higher for longer. What does that mean for you?
- 'Horrific scene': New Jersey home leveled by explosion, killing 1 and injuring another
- Biden to award the Presidential Medal of Freedom to 19 politicians, activists, athletes and more
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- Arizona governor’s signing of abortion law repeal follows political fight by women lawmakers
- A North Carolina man is charged with mailing an antisemitic threat to a Georgia rabbi
- Uncomfortable Conversations About Money: Read past stories here
- Current, future North Carolina governor’s challenge of power
- Julia Fox gets real on 'OMG Fashun,' vaping, staying single post-Ye and loving her son
Ranking
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- Judge declares mistrial after jury deadlocks in lawsuit filed by former Abu Ghraib prisoners
- Surprise! Young boy has emotional reaction when he unboxes a furry new friend
- Brittney Griner 'Coming Home' interview shows not just her ordeal in Russia, but her humanity
- Retirement planning: 3 crucial moves everyone should make before 2025
- The Fed indicated rates will remain higher for longer. What does that mean for you?
- Maui sues cell carriers over wildfire warning alerts that were never received during service outages
- Dentist accused of killing wife tried to plant letters suggesting she was suicidal, police say
Recommendation
Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
Small plane crashed into residential Georgia neighborhood, killing pilot
Why the best high-yield savings account may not come from a bank with a local branch
IRS says its number of audits is about to surge. Here's who the agency is targeting.
Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
Defense chiefs from US, Australia, Japan and Philippines vow to deepen cooperation
Campaign to legalize sports betting in Missouri gets help from mascots to haul voter signatures
Pitch Perfect 4 Is Being Developed and Rebel Wilson's Update Is Music to Our Ears