Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -FundPrime
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
TrendPulse Quantitative Think Tank Center View
Date:2025-04-06 10:19:36
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! (9881)
Related
- Former Syrian official arrested in California who oversaw prison charged with torture
- Captured albino python not the 'cat-eating monster' Oklahoma City community thought
- Mikaela Shiffrin still has more to accomplish after record-breaking season
- China shows off a Tibetan boarding school that’s part of a system some see as forced assimilation
- Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
- Son of federal judge in Puerto Rico pleads guilty to killing wife after winning new trial
- Maine shooting survivor says he ran down bowling alley and hid behind pins to escape gunman: I just booked it
- Judge finds former Ohio lawmaker guilty of domestic violence in incident involving his wife
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Houston-area deputy indicted on murder charge after man fatally shot following shoplifting incident
Ranking
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Carjacking call led police to chief’s son who was wanted in officers’ shooting. He died hours later
- A blast killed 2 people and injured 9 in a Shiite neighborhood in the Afghan capital Kabul
- There is no clear path for women who want to be NFL coaches. Can new pipelines change that?
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- Mikaela Shiffrin still has more to accomplish after record-breaking season
- Slammed by interest rates, many Americans can't afford their car payments
- NHL suspends Ottawa Senators' Shane Pinto half a season for violating sports wagering rules
Recommendation
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
An Idaho woman sues her fertility doctor, says he used his own sperm to impregnate her 34 years ago
Twitter takeover: 1 year later, X struggles with misinformation, advertising and usage decline
Pedro Argote, wanted in killing of Maryland judge, found dead
Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
María Corina Machado is winner of Venezuela opposition primary that the government has denounced
An Idaho woman sues her fertility doctor, says he used his own sperm to impregnate her 34 years ago
Darius Miles, ex-Alabama basketball player, denied dismissal of capital murder charge