Current:Home > FinanceToyota to invest $922 million to build a new paint facility at its Kentucky complex -Streamline Finance
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-11 21:28:03
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! (88471)
Related
- Breaking debut in Olympics raises question: Are breakers artists or athletes?
- Sophia Bush Responds After New Pics With Ashlyn Harris Spark Engagement Rumors
- Grayson Murray dies at age 30 a day after withdrawing from Colonial, PGA Tour says
- Lara Trump touts RNC changes and a 2024 presidential victory for Trump in North Carolina
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Republican-appointed University of Wisconsin regent refuses to step down when term ends
- Horoscopes Today, May 24, 2024
- Las Vegas Aces' Becky Hammon, A'ja Wilson: Critics getting Caitlin Clark narrative wrong
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- Five-time WNBA All-Star understands Caitlin Clark's growing pains: 'Happens to all of us'
Ranking
- Eva Mendes Shares Message of Gratitude to Olympics for Keeping Her and Ryan Gosling's Kids Private
- Are banks, post offices, UPS and FedEx open on Memorial Day 2024? Here's what to know
- Walmart ends exclusive deal with Capital One for retailer's credit card
- After George Floyd's death, many declared racism a public health crisis. How much changed?
- Travis Hunter, the 2
- Does tea dehydrate you? How to meet your daily hydration goals.
- What is the first round order for the 2024 NHL draft? Who are the top prospects?
- George Floyd's brother says he still has nightmares about his 2020 murder
Recommendation
Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
UFL schedule for Week 9 games: Times, how to stream and watch on TV
What restaurants are open Memorial Day 2024? Hours and details for McDonald's, Starbucks, more
National Spelling Bee reflects the economic success and cultural impact of immigrants from India
Intel's stock did something it hasn't done since 2022
Family infected with brain worm disease after eating black bear meat, CDC reports
Jeffrey Epstein, a survivor’s untold story and the complexity of abuse
Leclerc takes pole position for Monaco GP and ends Verstappen’s bid for F1 record