Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -TradeBridge
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-15 10:31:26
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! (85363)
Related
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- The new global gold rush
- Shoppers Say This Tula Eye Cream Is “Magic in a Bottle”: Don’t Miss This 2 for the Price of 1 Deal
- Powerball jackpot climbs to $875 million after no winners in Wednesday's drawing
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- The Indicator Quiz: Inflation
- 15 Products to Keep Your Pets Safe & Cool This Summer
- Florida’s Majestic Manatees Are Starving to Death
- Arkansas State Police probe death of woman found after officer
- These $19 Lounge Shorts With Pockets Have 13,300+ 5-Star Amazon Reviews
Ranking
- Military service academies see drop in reported sexual assaults after alarming surge
- Andy Cohen Has the Best Response to Real Housewives of Ozempic Joke
- The new global gold rush
- 50-pound rabid beaver attacks girl swimming in Georgia lake; father beats animal to death
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Groundhog Day 2023
- Amazon reports its first unprofitable year since 2014
- Shoppers Say This Tula Eye Cream Is “Magic in a Bottle”: Don’t Miss This 2 for the Price of 1 Deal
Recommendation
Tree trimmer dead after getting caught in wood chipper at Florida town hall
In the Arctic, Less Sea Ice and More Snow on Land Are Pushing Cold Extremes to Eastern North America
It's nothing personal: On Wall Street, layoffs are a way of life
Study: Commuting has an upside and remote workers may be missing out
The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
Panama Enacts a Rights of Nature Law, Guaranteeing the Natural World’s ‘Right to Exist, Persist and Regenerate’
If you got inflation relief from your state, the IRS wants you to wait to file taxes
Warming Trends: Cruise Ship Impacts, a Vehicle Inside the Hurricane’s Eye and Anticipating Climate Tipping Points