Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -ProfitPioneers Hub
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-13 11:12:24
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! (568)
Related
- Senate begins final push to expand Social Security benefits for millions of people
- New funds will make investing in bitcoin easier. Here’s what you need to know
- Video shows Virginia police save driver from fiery wreck after fleeing officers
- Blinken sees a path to Gaza peace, reconstruction and regional security after his Mideast tour
- Elon Musk’s Daughter Vivian Calls Him “Absolutely Pathetic” and a “Serial Adulterer”
- Germany’s Scholz condemns alleged plot by far-right groups to deport millions if they take power
- What we know about ‘Fito,’ Ecuador’s notorious gang leader who went missing from prison
- FACT FOCUS: Discovery of a tunnel at a Chabad synagogue spurs false claims and conspiracy theories
- A Georgia governor’s latest work after politics: a children’s book on his cats ‘Veto’ and ‘Bill’
- In his 1st interview, friend who warned officials of Maine shooter says ‘I literally spelled it out’
Ranking
- Boy who wandered away from his 5th birthday party found dead in canal, police say
- Review: 'True Detective: Night Country' is so good, it might be better than Season 1
- US adults across racial groups agree the economy is a top priority, AP-NORC and AAPI Data polls show
- 'Devastating case': Endangered whale calf maimed by propeller stirs outrage across US
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- Clarins 24-Hour Flash Deal— Get 50% off the Mask That Depuffs My Skin in Just 10 Minutes
- Michigan basketball's leading scorer Dug McDaniel suspended for road games indefinitely
- Running from gossip, Ariana Madix finds relief in Broadway’s salacious musical, ‘Chicago’
Recommendation
Small twin
Friendly fire may have killed their relatives on Oct. 7. These Israeli families want answers now
Mariska Hargitay reveals in powerful essay she was raped in her 30s, talks 'reckoning'
Clarins 24-Hour Flash Deal— Get 50% off the Mask That Depuffs My Skin in Just 10 Minutes
Chief beer officer for Yard House: A side gig that comes with a daily swig.
Peeps unveils new flavors for Easter 2024, including Icee Blue Raspberry and Rice Krispies
Director Bong Joon-ho calls for investigation into 'Parasite' actor Lee Sun-kyun's death
Alabama's challenge after Nick Saban: Replacing legendary college football coach isn't easy