Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -WealthMindset Learning
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-17 03:45:18
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! (16)
Related
- Tropical weather brings record rainfall. Experts share how to stay safe in floods.
- Nelly Korda chasing history, at 3-under after first round at Cognizant Founders Cup
- Family of 10-Year-Old Survivor in Quadruple Murder-Suicide Praise His Resilience
- The Daily Money: $1 billion in tax refunds need claiming
- $1 Frostys: Wendy's celebrates end of summer with sweet deal
- Murdered cyclist Mo Wilson's parents sue convicted killer Kaitlin Armstrong for wrongful death
- Man paralyzed after being hit with a Taser while running from police in Colorado sues officer
- Jalen Brunson's return, 54 years after Willis Reed's, helps Knicks to 2-0 lead. But series is far from over.
- Matt Damon remembers pal Robin Williams: 'He was a very deep, deep river'
- Man charged after transporting homemade explosives to 'blow up' Satanic Temple, prosecutors say
Ranking
- USA women's basketball live updates at Olympics: Start time vs Nigeria, how to watch
- Family of 10-Year-Old Survivor in Quadruple Murder-Suicide Praise His Resilience
- Murdered cyclist Mo Wilson's parents sue convicted killer Kaitlin Armstrong for wrongful death
- Disney+, Hulu and Max team up for streaming bundle package
- Jamaica's Kishane Thompson more motivated after thrilling 100m finish against Noah Lyles
- Stock market today: Asian shares trade higher after Wall St rally takes S&P 500 near record
- Utah avalanche triggers search for 3 skiers in mountains outside of Salt Lake City
- How long does it take for a college degree to pay off? For many, it's 5 years or less.
Recommendation
Chief beer officer for Yard House: A side gig that comes with a daily swig.
New Hampshire man sentenced to minimum 56 years on murder, other charges in young daughter’s death
'Killer whale predation': Gray whale washes up on Oregon beach covered in tooth marks
Why some health experts are making the switch from coffee to cocoa powder
The 'Rebel Ridge' trailer is here: Get an exclusive first look at Netflix movie
Pro-Palestinian protesters demand endowment transparency. But its proving not to be simple
Gunmen burst into San Antonio home, shooting 3 kids, 2 adults; suspects remain at large
A teen said a deputy threatened him as he filmed his mom’s arrest. A jury awarded him $185,000.