Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Aspire Capital Guides
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-15 19:15:58
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! (893)
Related
- Meet first time Grammy nominee Charley Crockett
- Academy Museum Gala: Leonardo DiCaprio, Salma Hayek, Selena Gomez, more shine on red carpet
- Jodie Sweetin Reveals the Parenting Advice the Full House Men Gave That's Anything But Rude
- Natalie Portman and Julianne Moore Deserve an Award for This Iconic Housewives Reenactment
- Rylee Arnold Shares a Long
- GM’s Cruise robotaxi service faces potential fine in alleged cover-up of San Francisco accident
- Judges reject call for near ban on Hague prison visits for 3 former Kosovo Liberation Army fighters
- AI’s future could be ‘open-source’ or closed. Tech giants are divided as they lobby regulators
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Ukrainian officials say Russian shelling has hit a southern city, killing 2 people in the street
Ranking
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Black Americans expect to face racism in the doctor's office, survey finds
- Academy Museum Gala: Leonardo DiCaprio, Salma Hayek, Selena Gomez, more shine on red carpet
- US job openings fall to lowest level since March 2021 as labor market cools
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- Repeat that again? Powerball's winning numbers have some players seeing a double opportunity
- Maralee Nichols Shares Glimpse Inside Her and Tristan Thompson's Son Theo's 2nd Birthday Party
- Virginia home explodes as police attempted to execute search warrant
Recommendation
Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
Jets coach Robert Saleh denies report Zach Wilson is reluctant to return as starting QB
US agency to watch unrecalled Takata inflators after one blows apart, injuring a driver in Chicago
Big city mosquitoes are a big problem — and now a big target
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
Ohio Republicans propose nixing home grow, increasing taxes in sweeping changes to legal marijuana
Supreme Court wrestles with legal shield for Sackler family in Purdue Pharma bankruptcy plan
Putin plans to visit UAE and Saudi Arabia this week, according to Russian media reports