Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -VitalWealth Strategies
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-18 07:58:53
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! (63)
Related
- Bet365 ordered to refund $519K to customers who it paid less than they were entitled on sports bets
- Enough to make your skin crawl: 20 rattlesnakes found inside a homeowner’s garage in Arizona
- China is sending Vice President Han Zheng to represent the country at UN General Assembly session
- Yankees set date for Jasson Dominguez's Tommy John surgery. When will he return?
- The Best Stocking Stuffers Under $25
- Slot machines and phone lines still down after MGM cyberattack Sunday. What to expect.
- Pregnant Sienna Miller Turns Heads in Bump-Baring Look at London Fashion Week
- U.S. reopens troubled facility for migrant children in Texas amid spike in border arrivals
- Meta releases AI model to enhance Metaverse experience
- Bangladesh is struggling to cope with a record dengue outbreak in which 778 people have died
Ranking
- Former Milwaukee hotel workers charged with murder after video shows them holding down Black man
- Autoworkers are on the verge of a historic strike
- Is Matty Healy Appearing on Taylor Swift's 1989 Re-Record? Here’s the Truth
- 'A perfect match': Alabama University student buys $6,000 designer wedding dress for $25 at Goodwill
- Oklahoma parole board recommends governor spare the life of man on death row
- Boston doctor charged with masturbating and exposing himself to 14-year-old girl on airplane
- How many calories are in an avocado? Why it might not be the best metric.
- Imagine making shadowy data brokers erase your personal info. Californians may soon live the dream
Recommendation
The 401(k) millionaires club keeps growing. We'll tell you how to join.
Ohio attorney general rejects language for political mapmaking reform amendment for a second time
Bill Maher says Real Time to return, but without writers
Apple will update iPhone 12 in France after regulators said it emitted too much radiation
Matt Damon remembers pal Robin Williams: 'He was a very deep, deep river'
He couldn’t see his wedding. But this war-blinded Ukrainian soldier cried with joy at new love
Striking Hollywood writers, studios to resume negotiations next week
U.S. reopens troubled facility for migrant children in Texas amid spike in border arrivals