Current:Home > NewsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Zenith Money Vision
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-12 14:32:14
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! (1763)
Related
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- BP Pledges to Cut Oil and Gas Production 40 Percent by 2030, but Some Questions Remain
- ‘At the Forefront of Climate Change,’ Hoboken, New Jersey, Seeks Damages From ExxonMobil
- Opioid settlement pushes Walgreens to a $3.7 billion loss in the first quarter
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Kate Mara Gives Sweet Update on Motherhood After Welcoming Baby Boy
- Tidal-wave type flooding leads to at least one death, swirling cars, dozens of rescues in Northeast
- Rebel Wilson Shares Glimpse Into Motherhood With “Most Adorable” Daughter Royce
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- A Black 'Wall Street Journal' reporter was detained while working outside a bank
Ranking
- Military service academies see drop in reported sexual assaults after alarming surge
- Charleston's new International African American Museum turns site of trauma into site of triumph
- Read Ryan Reynolds' Subtle Shout-Out to His and Blake Lively's 4th Baby
- Clothes That Show Your Pride: Rainbow Fleece Pants, Sweaters, Workout Leggings & More
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- Coinbase lays off around 20% of its workforce as crypto downturn continues
- NOAA’s ‘New Normals’ Climate Data Raises Questions About What’s Normal
- Young Voters, Motivated by Climate Change and Environmental Justice, Helped Propel Biden’s Campaign
Recommendation
Jamie Foxx reps say actor was hit in face by a glass at birthday dinner, needed stitches
Kate Hudson Bonds With Ex Matt Bellamy’s Wife Elle Evans During London Night Out
Damar Hamlin's 'Did We Win?' shirts to raise money for first responders and hospital
England will ban single-use plastic plates and cutlery for environmental reasons
Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
Madonna says she's on the road to recovery and will reschedule tour after sudden stint in ICU
Warming Trends: Heating Up the Summer Olympics, Seeing Earth in 3-D and Methane Emissions From ‘Tree Farts’
How Tom Holland Really Feels About His Iconic Umbrella Performance 6 Years Later