Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -NextWave Wealth Hub
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-16 13:16:51
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! (118)
Related
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- Looking for Amazon alternatives for ethical shopping? Here are some ideas
- Kaley Cuoco's Ex-Husband Karl Cook Engaged Nearly 2 Years After Their Breakup
- Can bots discriminate? It's a big question as companies use AI for hiring
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Maryland Thought Deregulating Utilities Would Lower Rates. It’s Cost the State’s Residents Hundreds of Millions of Dollars.
- In Final Debate, Trump and Biden Display Vastly Divergent Views—and Levels of Knowledge—On Climate
- Read Jennifer Garner's Rare Public Shout-Out to Ex Ben Affleck
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- UN Report: Despite Falling Energy Demand, Governments Set on Increasing Fossil Fuel Production
Ranking
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Travelers can save money on flights by skiplagging, but there are risks. Here's what to know.
- Kourtney Kardashian Has a Rockin' Family Night Out at Travis Barker's Concert After Pregnancy Reveal
- The Sweet Way Travis Barker Just Addressed Kourtney Kardashian's Pregnancy
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- Inside Clean Energy: With a Pen Stroke, New Law Launches Virginia Into Landmark Clean Energy Transition
- H&R Block and other tax-prep firms shared consumer data with Meta, lawmakers say
- The great turnaround in shipping
Recommendation
Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
San Francisco Becomes the Latest City to Ban Natural Gas in New Buildings, Citing Climate Effects
The Oil Market May Have Tanked, but Companies Are Still Giving Plenty to Keep Republicans in Office
With COVID lockdowns lifted, China says it's back in business. But it's not so easy
Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
Kelly Osbourne Slams F--king T--t Prince Harry
Peter Thomas Roth 50% Off Deal: Clear Up Acne and Reduce Fine Lines With Complexion Correction Pads
5 takeaways from the massive layoffs hitting Big Tech right now