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:2025-04-13 16:49:44
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! (318)
Related
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- Trump's 'stop
- 'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
- Senate begins final push to expand Social Security benefits for millions of people
- 2 killed, 3 injured in shooting at makeshift club in Houston
- Military service academies see drop in reported sexual assaults after alarming surge
- Average rate on 30
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Tom Holland's New Venture Revealed
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
Ranking
- Retirement planning: 3 crucial moves everyone should make before 2025
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Grammy nominee Teddy Swims on love, growth and embracing change
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- The Super Bowl could end in a 'three
Recommendation
Travis Hunter, the 2
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
Woman dies after Singapore family of 3 gets into accident in Taiwan
SFO's new sensory room helps neurodivergent travelers fight flying jitters
McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales