Current:Home > ContactToyota 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:2025-04-18 02:13:01
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! (1)
Related
- Travis Hunter, the 2
- 'I just wasn't ready to let her go': Michigan woman graduates carrying 10-day-old baby
- A Russian drone and artillery attack kills 6 in Ukraine and knocks out power in a major city
- Former Pakistani premier Nawaz Sharif will seek a fourth term in office, his party says
- Stamford Road collision sends motorcyclist flying; driver arrested
- Bowl game schedule today: Everything to know about college football bowl games on Dec. 26
- The Eiffel Tower is closed while workers strike on the 100th anniversary of its founder’s death
- The death toll in a Romania guesthouse blaze rises to 7. The search for missing persons is ongoing
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- I Placed 203 Amazon Orders This Year, Here Are the 39 Underrated Products You Should Know About
Ranking
- The 401(k) millionaires club keeps growing. We'll tell you how to join.
- Pistons try to avoid 27th straight loss and a new NBA single-season record Tuesday against Nets
- Not everyone's holiday is about family. Christmas traditions remind me what I've been missing.
- A Russian drone and artillery attack kills 6 in Ukraine and knocks out power in a major city
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- Babe Ruth, Ty Cobb, 'Shoeless' Joe Jackson: Rare baseball cards found in old tobacco tin
- Floods in a central province in Congo kill at least 17 people, a local official says
- Next year will be the best year to buy a new car since 2019, economist says
Recommendation
Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
I Placed 203 Amazon Orders This Year, Here Are the 39 Underrated Products You Should Know About
Fentanyl is finding its way into the hands of middle schoolers. Experts say Narcan in classrooms can help prevent deaths.
Holiday spending is up. Shoppers are confident, but not giddy
Average rate on 30
Tax season can be terrifying. Here's everything to know before filing your taxes in 2024.
A lawsuit challenging Alabama’s transgender care ban for minors will move forward, judge says
Former Turkish club president released on bail after punching referee at top league game