Current:Home > FinanceToyota to invest $922 million to build a new paint facility at its Kentucky complex -ValueMetric
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-17 13:54:21
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! (7755)
Related
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- U.S. attorney general meets with Uvalde families ahead of federal report about police response to school shooting
- Michigan man won $1 million thanks to having to return a wrong item
- Woman alleges long-term heart problems caused by Panera Bread's caffeinated lemonade
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- What If the Clean Energy Transition Costs Much Less Than We’ve Been Told?
- An acclaimed graphic novel about Gaza is seeing a resurgence, brought on by war
- Thailand fireworks factory explosion kills at least 20 people
- DoorDash steps up driver ID checks after traffic safety complaints
- USS Ford aircraft carrier returns home after eight-month deployment
Ranking
- A White House order claims to end 'censorship.' What does that mean?
- You'll Cringe After Hearing the Congratulatory Text Rob Lowe Accidentally Sent Bradley Cooper
- West Virginia advances bill to add photos to all SNAP cards, despite enforcement concerns
- What to know about the Justice Department’s report on police failures in the Uvalde school shooting
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Amazon to carry several pro sports teams' games after investment in Diamond Sports
- Fans react to latest Karim Benzema transfer rumors. Could he join Premier League club?
- Miami tight end Cam McCormick granted ninth season of playing college football
Recommendation
The company planning a successor to Concorde makes its first supersonic test
Where to watch 2024 Grammy Awards: TV channel, streaming info for 'Music's Biggest Night'
Nebraska Gov. Jim Pillen backs anti-LGBTQ bill and tax cuts in state of the state address
Haitian university officials face investigation over allegations of sexual abuse
Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
Spelman College receives $100 million donation, the highest in the college's history
Columnist accusing Trump of sex assault faces cross-examination in a New York courtroom
With 'Echo' Marvel returns to street level