Current:Home > ScamsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Thrive Financial Network
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-15 03:48:49
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! (2)
Related
- North Carolina justices rule for restaurants in COVID
- Matthew McConaughey's Son Levi Proves He's Following in His Dad's Footsteps With First Acting Role
- Pivotal August jobs report could ease recession worries. Or fuel them.
- Verizon to buy Frontier Communications in $20 billion deal to boost fiber network
- Trump invites nearly all federal workers to quit now, get paid through September
- Martin Lawrence Shares Rare Insight on Daughter's Romance With Eddie Murphy's Son
- The New Jersey developer convicted with Bob Menendez pleads guilty to bank fraud
- Retired DT Aaron Donald still has presence on Rams, but team will 'miss him' in 2024
- Where will Elmo go? HBO moves away from 'Sesame Street'
- Kansas City Chiefs superfan sentenced to 17.5 years in prison for armed bank robberies
Ranking
- Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
- Shop Madewell’s Under $50 Finds & Save Up to 67% on Fall-Ready Styles Starting at $11
- Shop Madewell’s Under $50 Finds & Save Up to 67% on Fall-Ready Styles Starting at $11
- Get a $48.98 Deal on a $125 Perricone MD Serum That’s Like an Eye Lift in a Bottle
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Ryan Seacrest vows to keep 'Wheel of Fortune' spinning as new host with Vanna White
- A Legionnaire’s disease outbreak has killed 3 at an assisted living facility
- Barney is back on Max: What's new with the lovable dinosaur in the reboot
Recommendation
Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
Selling Sunset's Chrishell Stause Says She Has Receipts on Snake Nicole Young
An inspiration to inmates, country singer Jelly Roll performs at Oregon prison
Police deny Venezuela gang has taken over rundown apartment complex in Denver suburb
North Carolina justices rule for restaurants in COVID
Texas would need about $81.5 billion a year to end property taxes, officials say
I’m a Shopping Editor, and These Are the Doc Martens Shoes Everyone Needs in Their Fall Wardrobe
NCAA champions UConn and South Carolina headed to White House to celebrate national titles