Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -InvestSmart Insights
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-13 20:07:28
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! (49)
Related
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- Samsung brings tech’s latest fashion to wearable technology with AI twists in new watch and ring
- Trump-appointed judge in Alaska resigns over sexual misconduct, leaving only 1 judge in state
- Hawaii airport evacuated after grenades found in man's carry-on luggage
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- Copa America live updates: Uruguay vs. Colombia winner tonight faces Argentina in final
- Who starts and who stars for the Olympic men's basketball team?
- Eric Roberts 'can't talk about' sister Julia Roberts and daughter Emma Roberts
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- Whataburger outage map? Texans use burger chain's app for power updates after Beryl
Ranking
- A South Texas lawmaker’s 15
- Feds shut down Russian AI 'bot farm' that spread disinformation for Putin
- Baptized by Messi? How Lamine Yamal's baby photos went viral during Euros, Copa America
- NATO allies call China a ‘decisive enabler’ of Russia’s war in Ukraine
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- New students at Eton, the poshest of Britain's elite private schools, will not be allowed smartphones
- Wimbledon 2024 bracket: Latest scores, results for tournament
- Meghan Trainor Reveals “Knees to Knees” Toilet Set Up in Her and Daryl Sabara’s New House
Recommendation
How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
Giants on 'Hard Knocks': Inside combine interviews, teeing up Saquon Barkley exit
How many points did Caitlin Clark score? Fever rookie tallies double-double vs. Mystics
KTLA news anchor Sam Rubin's cause of death revealed
Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
Missing Michigan mother and baby found walking barefoot at Texas ranch
You'll L.O.V.E Ashlee Simpson's Family Vacation Photos With Evan Ross and Their Kids
Jennifer Garner and Ben Affleck’s Daughter Violet Affleck Speaks Out About Health in Rare Speech