Current:Home > MyToyota to invest $922 million to build a new paint facility at its Kentucky complex -Excel Money Vision
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-14 00:16:51
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! (441)
Related
- Jamie Foxx reps say actor was hit in face by a glass at birthday dinner, needed stitches
- Southern Cities’ Renewable Energy Push Could Be Stifled as Utility Locks Them Into Longer Contracts
- Sony says its PlayStation 5 shortage is finally over, but it's still hard to buy
- From East to West On Election Eve, Climate Change—and its Encroaching Peril—Are On Americans’ Minds
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- Today's Al Roker Reflects on Health Scares in Emotional Father's Day Tribute
- Coinbase lays off around 20% of its workforce as crypto downturn continues
- How to keep your New Year's resolutions (Encore)
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- One of the world's oldest endangered giraffes in captivity, 31-year-old Twiga, dies at Texas zoo
Ranking
- 2025 'Doomsday Clock': This is how close we are to self
- Biden signs a bill to fight expensive prison phone call costs
- RHONJ Fans Won't Believe the Text Andy Cohen Got From Bo Dietl After Luis Ruelas Reunion Drama
- Fighting Attacks on Inconvenient Science—and Scientists
- Grammy nominee Teddy Swims on love, growth and embracing change
- FBI looking into Biden Iran envoy Rob Malley over handling of classified material, multiple sources say
- Damar Hamlin's 'Did We Win?' shirts to raise money for first responders and hospital
- Young Voters, Motivated by Climate Change and Environmental Justice, Helped Propel Biden’s Campaign
Recommendation
Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
As Climate Change Hits the Southeast, Communities Wrestle with Politics, Funding
What Has Trump Done to Alaska? Not as Much as He Wanted To
Read Ryan Reynolds' Subtle Shout-Out to His and Blake Lively's 4th Baby
How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
Get a $120 Barefoot Dreams Blanket for $30 Before It Sells Out, Again
Clothes That Show Your Pride: Rainbow Fleece Pants, Sweaters, Workout Leggings & More
Utilities Have Big Plans to Cut Emissions, But They’re Struggling to Shed Fossil Fuels