Current:Home > ScamsToyota 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:2025-04-15 17:48:52
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! (91)
Related
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Seahawks vs. Eagles Monday Night Football highlights: Drew Lock, Julian Love lift Seattle
- Colorado releases 5 wolves in reintroduction program approved by voters
- Jennifer Love Hewitt Has Honest Response to Claims She’s Unrecognizable
- 2025 'Doomsday Clock': This is how close we are to self
- What are your secrets to thriving as you age? We want to hear from you
- BP suspends all oil shipments through the Red Sea as attacks escalate
- These 50 Top-Rated Amazon Gifts for Teens With Thousands of 5-Star Reviews Will Arrive By Christmas
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- 'It was precious': Why LSU's Kim Mulkey had to be held back by Angel Reese after ejection
Ranking
- 'We're reborn!' Gazans express joy at returning home to north
- Mariah Carey's final Christmas tour show dazzles with holiday hits, family festivities, Busta Rhymes
- Long-delayed Minnesota copper-nickel mining project wins a round in court after several setbacks
- Michigan law students work to clear man convicted of stealing beer
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- 1 dead, 3 injured after boarding school partially collapses in central Romania
- Car linked to person missing since 2013 found in Missouri pond: Major break
- Costco members complain its butter changed and they're switching brands. Here's what is behind the debate.
Recommendation
Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
Escaped Texas inmate who was serving life without parole for child sexual abuse has been recaptured
Stock market today: World shares are mostly higher as Bank of Japan keeps its lax policy intact
Southwest Airlines in $140 million deal with feds over 2022 holiday travel meltdown
Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
Justice Sandra Day O’Connor, first woman on the Supreme Court, to be laid to rest at funeral Tuesday
Are Amy Robach and T.J. Holmes Ready to Get Married? She Says…
Texas immigration law known as SB4, allowing state to arrest migrants, signed by Gov. Greg Abbott