Current:Home > NewsToyota 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:2025-04-13 05:05:15
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! (97652)
Related
- Sam Taylor
- Bruins' David Pastrnak beats Maple Leafs in OT of Game 7 after being challenged by coach
- Russian military personnel enter Niger airbase where some U.S. troops remain
- Kendall Vertes Reveals Why Mother Jill Is Still the Ultimate Dance Mom
- Could your smelly farts help science?
- Bernard Hill, Titanic and The Lord of the Rings Actor, Dead at 79
- Where pro-Palestinian university protests are happening around the world
- Investigators say student killed by police outside Wisconsin school had pointed pellet rifle
- Sonya Massey's father decries possible release of former deputy charged with her death
- Cinco de Mayo 2024 food and drink specials: Deals at Taco Bell, Chipotle, TGI Fridays, more
Ranking
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Horoscopes Today, May 3, 2024
- Sierra Nevada records snowiest day of the season from brief but potent California storm
- NASCAR Kansas race spring 2024: Start time, TV, live stream, lineup for AdventHealth 400
- The Grammy nominee you need to hear: Esperanza Spalding
- 1 person killed and 23 injured in a bus crash in northern Maryland, police say
- Usher's Lovers & Friends canceled, music festival cites Las Vegas weather
- These Unbeatable Way Day 2024 Deals Up to 66% Off Are Perfect For Small Apartments & College Dorms
Recommendation
House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
Pro-Palestinian protesters at USC comply with school order to leave their encampment
The Daily Money: Should bridesmaids go broke?
Travis Kelce in attendance at 2024 Kentucky Derby at Churchill Downs
Rylee Arnold Shares a Long
Israel orders Al Jazeera to close its local operation and seizes some of its equipment
Steel cylinder breaks free at work site, kills woman walking down Pittsburgh sidewalk
We Can’t Get Enough of Jennifer Lopez’s Met Gala Looks Throughout the Years