Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -Infinite Wealth Strategies
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-17 06:28:11
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! (1)
Related
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- Real Housewives of Orange County’s Shannon Beador Breaks Silence on DUI Arrest Sentencing
- US officials, lawmakers express support for extension of Africa trade program
- Phoenix finishes clearing downtown homeless encampment after finding shelter for more than 500
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- FDA proposes banning ingredient found in some citrus-flavored sodas
- Blinken meets Palestinian leader in West Bank, stepping up Mideast diplomacy as Gaza war escalates
- Taylor Swift's Night Out With Selena Gomez, Sophie Turner, Brittany Mahomes and More Hits Different
- Small twin
- Putin revokes Russia's ratification of nuclear test ban treaty
Ranking
- Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor
- Still swirling in winds of controversy, trainer Bob Baffert resolved to 'keep the noise out'
- Lisa Vanderpump Makes Rare Comment About Kyle Richards' Separation Amid Years-Long Feud
- Japan’s prime minister tours Philippine patrol ship and boosts alliances amid maritime tensions
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- How Midwest Landowners Helped to Derail One of the Biggest CO2 Pipelines Ever Proposed
- How Damar Hamlin's Perspective on Life Has Changed On and Off the Field After Cardiac Arrest
- Kyle Richards Reveals Holidays Plans Amid Mauricio Umansky Separation
Recommendation
Moving abroad can be expensive: These 5 countries will 'pay' you to move there
Victims of abusive Native American boarding schools to share experiences in Montana
Supreme Court agrees to hear case over ban on bump stocks for firearms
Trump’s decades of testimony provide some clues about how he’ll fight for his real estate empire
Questlove charts 50 years of SNL musical hits (and misses)
Meg Ryan explains that 'What Happens Later' movie ending: 'I hope it's not a cop out'
Joro spiders are an invasive species known for parachuting through the air. Here's why you shouldn't fear them.
RHONJ's Teresa Giudice Reveals She's Spending Christmas 2023 With Ex Joe Giudice