Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -WealthSync Hub
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-13 13:16:04
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! (8)
Related
- The Best Stocking Stuffers Under $25
- Over 1.2 million rechargeable lights are under recall for fire hazards, following one reported death
- When Calls the Heart's Mamie Laverock “Fighting Hard” in Hospital After Balcony Fall
- Latino advocacy group asks judge to prevent border proposal from appearing on Arizona’s ballot
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Today is last day Walmart shoppers can claim up to $500. Here's how.
- Trump outpaces Biden and RFK Jr. on TikTok in race for young voters
- Migrants are rattled and unsure as deportations begin under new rule halting asylum
- Why members of two of EPA's influential science advisory committees were let go
- Solar Panel Prices Are Low Again. Here’s Who’s Winning and Losing
Ranking
- Questlove charts 50 years of SNL musical hits (and misses)
- Idaho Murder Case: Ethan Chapin’s Mom Tearfully Shares How She Finds Comfort After His Death
- Quicksand doesn’t just happen in Hollywood. It happened on a Maine beach
- Tornado hits Michigan without warning, killing toddler, while twister in Maryland injures 5
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- What is Hunter Biden on trial for? The gun charges against him, explained
- 'The eyes of the world are upon you': Eisenhower's D-Day order inspires 80 years later
- U.S counterterrorism chief Christy Abizaid to step down after 3 years on the job
Recommendation
This was the average Social Security benefit in 2004, and here's what it is now
Chanel artistic director Virginie Viard to depart label without naming successor
World hits 12 straight months of record-high temperatures — but as warming continues, it'll be remembered as comparatively cold
How Brittany Cartwright Really Feels About Jax Taylor Dating Again After Their Breakup
'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
NBA Finals Game 1 Celtics vs. Mavericks: Predictions, betting odds
'Power Book II: Ghost' Season 4: Release date, cast, trailer, where to watch new episodes
2 more charged in betting scandal that spurred NBA to bar Raptors’ Jontay Porter for life