Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -PureWealth Academy
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
SignalHub Quantitative Think Tank Center View
Date:2025-04-07 02:36:21
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! (7716)
Related
- DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
- Nintendo's Wii U and 3DS stores closing means game over for digital archives
- Can Biden’s Plan to Boost Offshore Wind Spread West?
- Madonna Hospitalized in the ICU With “Serious Bacterial Infection”
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Hurry! Everlane’s 60% Off Sale Ends Tonight! Don’t Miss Out on These Summer Deals
- Man arrested 2 months after fight killed Maryland father in front of his home
- Judge rules Fox hosts' claims about Dominion were false, says trial can proceed
- Small twin
- Venezuela sees some perks of renewed ties with Colombia after years of disputes
Ranking
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- A Life’s Work Bearing Witness to Humanity’s Impact on the Planet
- Tom Brady Mourns Death of Former Patriots Teammate Ryan Mallett After Apparent Drowning
- Google's 'Ghost Workers' are demanding to be seen by the tech giant
- 'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
- Inside Clean Energy: From Sweden, a Potential Breakthrough for Clean Steel
- Saudis, other oil giants announce surprise production cuts
- Too many subscriptions, not enough organs
Recommendation
Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
Anheuser-Busch CEO Addresses Bud Light Controversy Over Dylan Mulvaney
Activists Target Public Relations Groups For Greenwashing Fossil Fuels
Disney blocked DeSantis' oversight board. What happens next?
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
AMC ditching plan to charge more for best movie theater seats
Will Kevin, Joe and Nick Jonas' Daughters Form a Jonas Cousins Band One Day? Kevin Says…
Coal Powered the Industrial Revolution. It Left Behind an ‘Absolutely Massive’ Environmental Catastrophe