Current:Home > InvestToyota to invest $922 million to build a new paint facility at its Kentucky complex -DollarDynamic
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-14 14:42:11
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! (761)
Related
- Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
- Chicago Bears to be featured on this season of HBO's 'Hard Knocks'
- Man charged in AP photographer’s attack pleads guilty to assaulting officer during Capitol riot
- NCAA, states reach agreement in lawsuit to permanently allow multiple-transfer athletes to compete
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- Will and Jada Pinkett Smith Make First Joint Red Carpet Appearance Since Separation Announcement
- Sarah McLachlan struggled to find musical inspiration as a 'wealthy, middle-aged white woman'
- Jimmy Hayes’ Widow Kristen Remarries, Expecting Baby With Husband Evan Crosby
- Jamie Foxx reps say actor was hit in face by a glass at birthday dinner, needed stitches
- Sen. Joe Manchin leaves Democratic Party, registers as an independent
Ranking
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- Biden is said to be finalizing plans for migrant limits as part of a US-Mexico border clampdown
- Person dies after falling into engine of departing passenger jet at Amsterdam airport
- Bruhat Soma carries a winning streak into the Scripps National Spelling Bee finals
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Prosecutors unveil cache of Menendez texts in bribery trial: It is extremely important that we keep Nadine happy
- Stegosaurus could become one of the most expensive fossils ever sold at auction
- Cynthia Nixon Addresses Sara Ramirez's Exit From And Just Like That
Recommendation
Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
Congressional Republicans stick by Trump after conviction, call it a travesty of justice
Nicole Brown Simpson’s sisters want you to remember how she lived, not how she died
'Eric': Is the Netflix crime drama based on a true story? And will there be a Season 2?
Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
81-year-old man accused of terrorizing California neighborhood for years with slingshot is found dead days after arrest
Where Trump's 3 other criminal cases stand after his conviction in New York
Judge to mull overturning Polly Klaas killer Richard Allen Davis' death sentence