Current:Home > InvestToyota to invest $922 million to build a new paint facility at its Kentucky complex -Zenith Investment School
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-20 04:41:44
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! (9275)
Related
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- As Biden Eyes a Conservation Plan, Activists Fear Low-Income Communities and People of Color Could Be Left Out
- Family, friends mourn the death of pro surfer Mikala Jones: Legend
- Bank of America says the problem with Zelle transactions is resolved
- Meta releases AI model to enhance Metaverse experience
- Over 100 Nations at COP26 Pledge to Cut Global Methane Emissions by 30 Percent in Less Than a Decade
- Coal-Fired Power Plants Hit a Milestone in Reduced Operation
- Drive-by shooting kills 9-year-old boy playing at his grandma's birthday party
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Drier Springs Bring Hotter Summers in the Withering Southwest
Ranking
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Love Is Blind’s Jessica Batten Gives Birth, Welcomes First Baby With Husband Ben McGrath
- Untangling Exactly What Happened to Pregnant Olympian Tori Bowie
- HCA Healthcare says hackers stole data on 11 million patients
- Could your smelly farts help science?
- Rental application fees add up fast in a tight market. But limiting them is tough
- 2 boys dead after rushing waters from open Oklahoma City dam gates sweep them away, authorities say
- Al Pacino and More Famous Men Who Had Children Later in Life
Recommendation
Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
Inside Ben Stiller and Christine Taylor's Private Family Life With Their Kids
Aretha Franklin's handwritten will found in a couch after her 2018 death is valid, jury decides
Eminent Domain Lets Pipeline Developers Take Land, Pay Little, Say Black Property Owners
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Hi Hi!
Disney employees must return to work in office for at least 4 days a week, CEO says
Inside Clean Energy: An Energy Snapshot in 5 Charts
Lessons From The 2011 Debt Ceiling Standoff