Current:Home > InvestToyota to invest $922 million to build a new paint facility at its Kentucky complex -Keystone Capital Education
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-17 12:35:57
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! (81398)
Related
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- 2 more eyedrop brands are recalled due to risks of injury and vision problems
- These Secrets About Sleepless in Seattle Are Like... Magic
- These Secrets About Sleepless in Seattle Are Like... Magic
- Tom Holland's New Venture Revealed
- DOJ sues to block JetBlue-Spirit merger, saying it will curb competition
- Early Amazon Prime Day Deal: Shop the Best On-Sale Yankee Candles With 41,300+ 5-Star Reviews
- Kick off Summer With a Major Flash Sale on Apple, Dyson, Peter Thomas Roth, Tarte, and More Top Brands
- Why members of two of EPA's influential science advisory committees were let go
- Racial bias in home appraising prompts changes in the industry
Ranking
- Trump's 'stop
- How a civil war erupted at Fox News after the 2020 election
- This Amazon Cleansing Balm With 10,800+ 5-Star Reviews Melts Away Makeup, Dirt & More Instantly
- Fox Corp CEO praises Fox News leader as network faces $1.6 billion lawsuit
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- Inside Clean Energy: How Norway Shot to No. 1 in EVs
- 2 more eyedrop brands are recalled due to risks of injury and vision problems
- Indigenous Tribes Facing Displacement in Alaska and Louisiana Say the U.S. Is Ignoring Climate Threats
Recommendation
How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
Getting a measly interest rate on your savings? Here's how to score a better deal
Baltimore Continues Incinerating Trash, Despite Opposition from its New Mayor and City Council
US Taxpayers Are Spending Billions on Crop Insurance Premiums to Prop Up Farmers on Frequently Flooded, Unproductive Land
New Zealand official reverses visa refusal for US conservative influencer Candace Owens
Warming Trends: Swiping Right and Left for the Planet, Education as Climate Solution and Why It Might Be Hard to Find a Christmas Tree
A Silicon Valley lender collapsed after a run on the bank. Here's what to know
Small plane crashes into Santa Fe home, killing at least 1